SEI token will likely be in the highlight subsequent week as Binance is scheduled to list it on its platform. Data revealed by Aevo, a brand new crypto futures platform exhibits that the token will seemingly open at 26 cents. If this occurs, it implies that the token’s market cap will likely be over $500 million, making it considered one of the most profitable launches this yr.
SEI is the thirty sixth undertaking coming from Binance launchpool. The different blockchains to come from the ecosystem are Sui and Bella Protocol. According to its web site, Sei is a layer 1 community that particularly focuses n buying and selling. It will allow builders to construct initiatives which can be at the intersection of centralized and decentralized exchanges.
Sei makes use of the Twin-Turbo consensus and a number of levels of parallelization to scale back latency and enhance throughput. Its web site identifies a number of initiatives in its ecosystem, together with Alpha Venture DAO, Apollo DAO, and Astroport.
The problem for SEI and different new layer-1 and layer-2 networks – together with Coinbase’s Base, is that the trade is very saturated, with most exercise taking place in Ethereum. For instance, PayPal chosen Ethereum as its blockchain for the new PYUSD stablecoin.
Many builders are additionally transferring to layer-2 networks like Arbitrum, Optimism, and Polygon. Most importantly, a lot of the just lately launched layer 1 networks like Aptos and Sui haven’t gained traction amongst builders.
Therefore, there’s a probability that SEI token value will seemingly rise shortly after itemizing after which retreat shortly after that.
