Is it safe to buy the SEI token after exchange listing?

SEI token will likely 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 implies that the token’s market cap will likely be over $500 million, making it probably the most profitable launches this yr.

SEI is the thirty sixth undertaking coming from Binance launchpool. The opposite blockchains to return from the ecosystem are Sui and Bella Protocol. In line with its web site, Sei is a layer 1 community that particularly focuses n buying and selling. It’ll allow builders to construct tasks which might be 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 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 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 chance that SEI token worth will probably rise shortly after itemizing after which retreat shortly after that.

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