The SAPIEN token surged by up to 70% following its Token Generation Event (TGE) and subsequent listings on several major crypto exchanges, including Kraken and KuCoin.
Summary
- The SAPIEN token experienced a near 70% increase within 24 hours post-launch.
- Major exchanges like Coinbase and Kraken added the token shortly after its TGE.
As noted in a recent X post, Binance Alpha, a highlighted section on the Binance exchange, was the first platform to list SAPIEN (SAPIEN) on August 20. Just 30 minutes later, the token was also made available on the exchange’s futures trading platform.
Other significant exchanges supporting the SAPIEN token include Coinbase, Kraken, KuCoin, MEXC, and Bitget.
The TGE set the token’s maximum supply at 1 billion, with 250 million tokens entering circulation after the event.
Per its tokenomics, approximately 5% of the total supply, or 50 million tokens, was allocated to early contributors based on their confirmed contributions.
An extra 0.5%, amounting to 5 million tokens, was designated for the top 10,000 members of CookieDAO, with 30% released at launch. Additionally, the Sapien Squad and Discord role holders received bonus allocations as a reward for their engagement.
In total, 13% of the overall supply was allocated for airdrops, with further portions reserved for staking, liquidity, and rewards for long-term contributors.
After the TGE, Sapien had a starting price of $0.148, rising nearly 70% to reach an intraday peak of $0.252 within five hours. Since then, the altcoin’s price has stabilized and dropped by approximately 5%, currently trading at $0.239 as of the latest updates.
The daily trading volume for the token surged over 19,000% in the past 24 hours, indicating a strong uptick in demand from investors, which contributed to its gains today. The excitement surrounding the token has also propelled it into the trending section of Google searches, signaling increased interest from retail investors.
Sapien is a decentralized AI data protocol built on Base, the Layer-2 blockchain developed by Coinbase. Its goal is to establish a “proof-of-quality” approach for AI training data, wherein contributors label, validate, and enhance datasets.
The SAPIEN token functions as the protocol’s native utility and governance asset. It incentivizes contributors for completing data-related tasks, rewards validators who maintain quality standards, and enables staking options that align network participants with the system’s integrity. Furthermore, token holders can engage in governance decisions, shaping the platform’s future direction.
By staking tokens, building a reputation, and facing slashing for inadequate performance, contributors help ensure that the data utilized in AI systems is accurate, transparent, and community-driven.
Supported by prominent investors such as Animoca Brands, Variant, Primitive Ventures, and Yield Guild Games, Sapien secured over $15 million through two fundraising rounds prior to its token launch.
The project has already attracted enterprise clients, including Midjourney, Workday, and UN programs, emphasizing its commitment to real-world application.
Disclosure: This article does not constitute investment advice. The content and resources provided on this page are solely for educational purposes.
