SEI token might be within the highlight subsequent week as Binance is scheduled to list 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 signifies that the token’s market cap might be over $500 million, making it one of the profitable launches this 12 months.
SEI is the thirty sixth undertaking coming from Binance launchpool. The opposite blockchains to come back from the ecosystem are Sui and Bella Protocol. In response to its web site, Sei is a layer 1 community that particularly focuses n buying and selling. It’s going to allow builders to construct initiatives 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 cut back latency and enhance throughput. Its web site identifies a number of initiatives 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 business 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, most of the not too long ago launched layer 1 networks like Aptos and Sui haven’t gained traction amongst builders.
Due to this fact, there’s a probability that SEI token worth will probably rise shortly after itemizing after which retreat shortly after that.