Key Takeaways

Somnia’s mainnet went live on the 2nd of September, and the token was listed on several centralized exchanges. This saw the L1 token register sizeable gains quickly.

Somnia [SOMI] has rallied 316% from its 4th of September low at $0.38. This bullish momentum followed the spree of exchange listings SOMI crypto saw on the 2nd and 3rd of September.

It was listed on major exchanges, including Binance, Bybit, and Bitget.

The $253 million market cap L1 blockchain token saw a $1.17 billion daily trading volume in the past 24 hours.

This was a remarkable volume for the relatively small-cap token, and meant that investor conviction was strong and more gains could follow.

The token has deflationary tokenomics, with 50% of the transaction fees burned. SOMI crypto supply is capped at 1 billion tokens. The mainnet launch came on the 2nd of September.

The L1 blockchain claims it is “built for speed” and is capable of 1 million transactions per second with sub-second finality.

Technical analysis showed $2+ targets for SOMI crypto

Somnia was in a strong uptrend on the 1-hour timeframe. Si

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Author: Akashnath S