Sei, ORDI, and Arweave have all experienced significant surges in value, with Sei leading the pack with a 12.5% increase. The Sei Project, launched in August 2023, has seen its coin reach $0.397, with a substantial rise in trading volume to around $179 million. Despite this surge, Sei’s value remains 65% below its all-time high.
The recent surge in Sei’s value is linked to the launch of the “Sei v2 mainnet beta,” which the team claims is the most performant EVM blockchain ever created. This network, geared towards fast and cost-effective crypto trading, has integrated Geth, a popular Ethereum software used by developers for decentralized applications.
ORDI, another top gainer, saw a 10% increase in price, trading at $41. It is the 84th largest cryptocurrency by market cap, with a daily trading volume of $200 million. ORDI operates as a meme coin on the Bitcoin network, created using the Ordinals protocol by software engineer Casey Rodarmor. This protocol allows data like text, images, and videos to be written directly to each satoshi, enabling new applications of non-fungible tokens and tokens on Bitcoin.
Arweave’s native token, AR, rose 10% to $33.3, with its daily trading volume doubling to around $106 million. The market cap of AR surpassed $2.1 billion, making it the 46th largest cryptocurrency. Arweave is known for its decentralized storage solution and recently introduced the Arweave AO protocol to facilitate parallel executions for proof-of-stake computations.
These altcoins’ surge in value followed Bitcoin’s 3% increase, reaching $66,732. Market analysts attribute this rise to various factors, including the end of the German government’s selling pressure of their BTC holdings and the influx of over $1 billion into Bitcoin ETFs. This influx, according to Gemini, may have attracted new investors to Bitcoin who previously lacked exposure to the cryptocurrency.
Overall, the global cryptocurrency market cap also saw a 1.42% increase, reaching a total of $2.43 trillion. This growth indicates a positive trend in the crypto market, with altcoins like Sei, ORDI, and Arweave leading the way in value surges alongside Bitcoin’s recent performance.