Serum
About Serum
The price of Serum (SRM) is $0.02900376 today, as of Sep 19 03:19 p.m., with a 24-hour trading volume of $1.00M. Over the last 24 hours, the price has increased by 4.35%. Serum currently has a circulating supply of 372.78M and a market cap of $10.81M.
SRM is the native token of Serum, a decentralized exchange based on the Solana blockchain.
Serum launched in August 2020, trading at $1.70. Aside from a brief spurt to $3.60 in early September, SRM bumbled along at about $1.20 until 2021. When bitcoin rose to its first high of the year in the second quarter, SRM hit highs of $11.73. When BTC crashed, so did SRM, which fell to $2.46 in July 2021.
SRM’s all-time high of $13.72 on Sept. 11, 2021 preceded BTC’s all-time high by about two months; it’s a similar story for most decentralized finance (DeFi) coins. And, like most of DeFi, SRM crashed hard going into 2022. By June, it had fallen to lows of 94 cents.
Serum’s total-value locked (TVL) peaked at $1.88 billion in early November 2021, just as crypto’s market cap hit an all-time high. Serum’s TVL crashed along with its price. At the start of June 2022, Serum’s TVL had fallen to just $288 million.
SRM has a fixed, capped supply of 10,161,000,000. It released 10% of these at launch. The rest will be released linearly until August 2027. Contributors and early investors, whose tokens are subject to lockups, will receive 46% of the supply. The remaining 54% will be used to incentivize activity on Serum and collaborate with other protocols.
Each week, Serum burns SRM equivalent to four-fifths of the exchange’s revenue, and gives the rest to SRM stakers.