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SAPIEN token has rallied as much as 70% following its TGE event, along with launch on multiple crypto exchanges, including Kraken and KuCoin.
- SAPIEN token rose nearly 70% within a day following its launch.
- The token was listed on major exchanges such as Coinbase and Kraken shortly after its TGE.
According to a recent X post, Binance Alpha, a spotlight section within the main Binance exchange, was the first platform to list Sapien (SAPIEN) on Aug. 20. Just half an hour later, the exchange also added the token to its futures trading platform.
Other major exchanges that also added support for the SAPIEN token include Coinbase, Kraken, KuCoin, MEXC, and Bitget.
The token generation event established the token’s max supply at 1 billion, with 250 million entering circulation after the event.
According to its tokenomics, around 5% of the supply, or 50 million tokens, was distributed to early contributors based on their confirmed points.
An additional 0.5%, or 5 million tokens, was allocated to the top 10,000 members of CookieDAO, with 30% of that tranche unlocked at launch. The Sapien Squad and Discord role holders also received bonus allocations in recognition of their participation.
Altogether, 13% of the total supply was earmarked for airdrops, with further allocations directed toward staking, liquidity, and long-term contributor rewards.
Following the TGE, Sapien debuted at an initial price of $0.148 and climbed nearly 70% to an intraday high of $0.252 within five hours. Since then, the altcoin has traded sideways and slipped about 5%, exchanging hands at $0.239 as of press time.
Daily trading volume for the token remained over 19,000% over the past day, highlighting a sharp spike in demand from investors that fueled its gains today. The buzz surrounding the token has also pushed it into the breakout section of Google searches, reflecting heightened interest from retail investors.
What is Sapien?
Sapien is a decentralized AI data protocol built on Base, Coinbase’s Layer-2 blockchain. Its mission is to create a “proof-of-quality” system for AI training data, where contributors label, validate, and refine datasets.
The SAPIEN token serves as the protocol’s native utility and governance asset. It is used to reward contributors for completing> Read more: OKB price rallies 55% as OKX nears full X Layer token shift
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.