SEI token might be within the highlight subsequent week as Binance is scheduled to checklist it on its platform. Information revealed by Aevo, a brand new crypto futures platform exhibits that the token will probably open at 26 cents. If this occurs, it implies that the token’s market cap might be over $500 million, making it some of the profitable launches this yr.
SEI is the thirty sixth venture coming from Binance launchpool. The opposite blockchains to come back from the ecosystem are Sui and Bella Protocol. In accordance with its web site, Sei is a layer 1 community that particularly focuses n buying and selling. It can allow builders to construct tasks which are on 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 increase throughput. Its web site identifies a number of tasks in its ecosystem, together with Alpha Enterprise 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 occurring in Ethereum. For instance, PayPal chosen Ethereum as its blockchain for the brand new PYUSD stablecoin.
Many builders are additionally transferring to layer-2 networks like Arbitrum, Optimism, and Polygon. Most significantly, lots of the lately launched layer 1 networks like Aptos and Sui haven’t gained traction amongst builders.
Subsequently, there’s a chance that SEI token worth will probably rise shortly after itemizing after which retreat shortly after that.
