BYDFi is a CEX based in Singapore, since 2020. They offer spot, derivatives, and copy trading. Its trading charts are more advanced compared to other CEXes. Forbes picked BYDFi as one of the 10 best crypto exchanges in 2023.
Recently, BYDFi listed five new tokens. We highlight three of them. Time to take a look at SEI, ELF, and AUCTION.
🚀 New listings alert! SEI, MBL, ELF, AUCTION, and MLK are now live for spot trading. Dive into these fresh markets! #NewListings #CryptoTrading pic.twitter.com/vaUWwHVzhq
— BYDFi (@BYDFi) December 7, 2023
Sei Network (SEI)
Sei Network is a layer 1 blockchain. It offers trading in digital assets. This covers, among other things, NFTs, gaming, social, or coins and tokens. In their docs, they label themselves as ‘the fastest blockchain in the industry’. That means that they outperform a fast chain like Solana.
The SEI token launch was in mid-August. This went together with a SEI airdrop. Unfortunately, this airdrop was not well received. Users tested the Sei Network for months on the testnet. However, the airdrop wasn’t worth more than $5 if you were lucky.
Nonetheless, ever since, the SEI token has seen a slow but steady increase in price. The Sei Network is part of the Cosmos ecosystem, which currently seems to be on fire. This offers a good perspective for the SEI token and the network. It’s a good project, so it’s not only by association that the token price is seeing an upward trend.
The network is fast, secure, and user-centric. It has a transactional throughput of 20,000 TPS (transactions per second). The finality is 380 milliseconds. That’s the moment the transaction broadcasts to the blockchain, until finalizing the transaction. In other words, that is very fast. See the picture below for a comparison between chains.
Source: Sei
aelf (ELF)
The aelf project bridges the gap between Web2 and Web3. They offer a decentralized chain with a high-security level. Their chain is also very scalable. So, this is excellent for blockchain gaming. Developers and studios in this space will love these features. Furthermore, aelf is also multichain.
The latter allows for various side chains. Each of these chains can have, for example, its own,
- Consensus algorithm.
- Governance model.
- Or economic model.
The project has some promising partnerships. For example, Huawei, Amazon Web Services, or Microsoft Azure. It also has a wide range of investors behind the project. For example, FBG Capital, Blockchain Ventures, or Blocktower.
The ELF token had a great year, it’s up by 427% over the year. It’s also listed on plenty of exchanges. The token has good utility as well. For example, staking, using it to pay for transaction fees, and as a medium of exchange.
So, it’s a good move by BYDFi to add the ELF token to its portfolio. The project also has a sound roadmap that stretches into 2024. So far, the team has been delivering on this roadmap. The picture below shows the multichain options for sidechains.
Source: aelf
Bounce Finance (AUCTION)
Bounce Finance has a token with the ticker AUCTION. That ticker says it all. They have a decentralized auction platform. What’s in a name? It works for all Ethereum and BNB-based assets. Holding the AUCTION token gives you governance rights. The platform uses various auction techniques.
The auctions are for either NFTs or tokens. Typical for NFTs is that it can be for unique or single pieces. It also allows auctioning off a limited number of tokens. Auctions types available include,
- Dutch auctions — lowering the price.
- Fixed swap auction — this uses a fixed price.
- Sealed bid action — this hides the price.
So, you end up swapping tokes. However, it’s in a much more competitive environment. There’s also a Bitcoin layer 2 on the platform since early December. In February 2023, Bounce launched already its V3 version of the platform. This brought many improvements.
As a result, the AUCTION token has been doing great in 2023. Over the last 30 days, it has seen an upward trend of 150%. However, over the whole year, it’s up by 444%.
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— Bounce Brand (@bounce_finance) December 6, 2023
Conclusion
BYDFi recently listed five new tokens. We highlight three of these tokens, SEI, ELF, and AUCTION. All three tokens saw recent positive price developments. A good time to explore these three tokens.
You can buy SEI, ELF, and AUCTION at BYDFi. They offer the best of what Centralized Exchanges have plus No KYC. You can trade in spot or futures for very low fees and withdraw up to 0.5 BTC with no KYC necessary. Give BYDFi a try today.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by BYDFi.
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