SEAM surged 64% previously day after Base introduced plans to scale its capability by growing fuel limits.
At press time, SEAM (SEAM) was buying and selling at $1.99, its highest degree since Aug. 5 when the crypto and inventory markets crashed, and the worldwide crypto market noticed over $1 billion in liquidations. The cryptocurrency reached an intraday excessive of $2.55, up over 104% from its weekly low of $1.25.
As SEAM’s value continues to climb, its market cap has exceeded $52 million, and every day buying and selling quantity spiked by 2,254% to round $11.4 million, based mostly on CoinGecko knowledge.
Seamless Protocol, launched in September, is a fork of Aave v3, an Ethereum-based DeFi lending platform. It operates on Base, the Layer 2 Ethereum community incubated by Coinbase. The protocol was based by contributors and advisors from distinguished companies similar to Coinbase, Uniswap, CertiK, and Seashell.
In accordance to DefiLlama, Seamless Protocol is presently the 14th largest app on the Base community by complete worth locked and ranks third amongst native Base-based platforms, with roughly $22.22 million in belongings locked.
SEAM’s rally follows Base’s latest announcement to scale its community by growing fuel limits by 1 Mgas/s per week as a part of its broader objective to achieve 1 Ggas/s, a vital step in enabling one billion customers on-chain.
The newest initiative seeks to boost scalability and cut back transaction charges, driving heightened investor curiosity in SEAM and the Seamless Protocol.
Technical indicators for SEAM point out that bulls are in management with the Transferring Common Convergence Divergence line crossing above the sign line, hinting that the upward momentum would doubtless proceed.
Additionally, on the every day chart, the Aroon indicator reveals the Aroon Up at 92.86%, reflecting robust upward momentum. In distinction, the Aroon Down is decrease at 7.14%, suggesting minimal downward motion. This divergence typically factors to bullish management within the quick time period.
Nonetheless, its Commodity Channel Index spiked to 358.68 following the latest rally, a degree effectively above the overbought threshold of 100. Such elevated readings usually sign the potential for an impending correction, so merchants should train warning.