SEI Price Collapses Ahead of FOMC: Are Altcoins Dead?

SEI Crypto is collapsing ahead of the FOMC, leaving some panicked retail traders asking, ‘Are Altcoins Dead?’ Find out in this SEI price analysis.

Taking a proactive stance, Binance has temporarily frozen token activities on the Sei crypto and SEI EVM networks.

This hiatus is all about prepping for a hefty upgrade designed to boost the network’s robustness and scalability. Sei’s price took a 4.64% haircut off the news.

The Reason Behind the SEI Crypto Upgrade

Sei is ready to overhaul its operations with a game-changing upgrade. Set to roll out at 15:00 UTC on September 16, the service pause will hit when they reach block height 102,491,599 by 16:00 UTC. This move is a key milestone in Sei’s strategy to enhance its infrastructure and boost service delivery.

According to Binance, “The decision to pause deposits and withdrawals will have no effect on token trading on either network.”

Despite the freeze on deposits and withdrawals, Binance guarantees the SEI token trading floor stays open for business. This means users can trade freely, a calculated promise reinforcing faith in Sei.

$SEI testing channel support after short-term dip. Volume increasing. Potential rebound? 👀 #SEI #crypto pic.twitter.com/BpXQ2XHi0X

— persis10t (@thepersis10t) September 16, 2024

Introduction of New Memecoins on Sei Crypto

In tandem with the Sei network upgrade , Binance has also rolled out three new meme coins: First Neiro (NEIRO) on Ethereum, Turbo (TURBO), and Baby DogeCoin (1MBABYDOGE). Each comes with a “seed tag,” signaling its fresh entry and wild volatility.

Although the altcoin rally is dead – with the potential of the FOMC to revive,  though we’re 50/50 on that – meme coins have been alive and well.

These meme coins are Binance’s latest gambit to outpace rivals in the frenetic crypto sphere, giving users a buffet of new investment choices to explore.

A New Potential 50X: Memebet Token:

Memebet Token ($MEMEBET) is making waves as a crypto with a serious upside.

Nestled within the Telegram ecosystem, this meme coin casino lets users gamble anonymously on games and sports. With the blockchain betting scene heating up, Memebet Casino is on the radar of industry pundits who predict a bright future.

If you’re bored with the altcoin slugfest, the memebet is a token to put on your radar.

VISIT MEMEBET HERE

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.