Sei Network is making waves and is about to surprise quite a few in the crypto space. We found 3 reasons why Sei is about to explode. Don’t miss out on this opportunity and find out about Sei Network.
So, make sure to stay around until the end. This video will give you the full picture of why Sei Network can be a game changer.
Since I don’t cover Sei Network ($SEI) that often, here’s a quick rundown on what Sei is about. You can also watch my recent video about Sei. Check the link here. So, Sei’s mainnet launched in August 2023. Its $SEI token also launched at the same time. However, the $SEI airdrop was a big letdown for most users.
Nonetheless, Sei kept moving forward and seemed to have shrugged off that bad start. Sei caters to trading-related activities. It’s a fast chain with low-cost transactions, and it’s scalable. For example, its finality is around 400 ms. That’s on par with Sui’s finality, and Sui ranks second for finality of all chains. So, finality is when a transaction can’t be reversed anymore.
Think of finality when you pay with your card, and you need to wait for the transaction to go through. However, you know there’s plenty of money in your account. That’s finality.
Some of its focus points are DeFi, gaming, and NFT marketplaces. It wants to offer a similar convenience and speed like a CEX. However, with a decentralized version. Another example is that during June, Sei Network was the #1 gaming chain on DappRadar. See the picture below.
Source: X
To build Sei Network, the team used the Cosmos SDK, and it’s part of the IBC. That’s the Inter-Blockchain Communication Protocol. It uses a parallelized EVM (Ethereum Virtual Machine). However, Sei announced that it will be leaving Cosmos and switch to a full stop Ethereum EVM.
So, let’s now take a look at the three reasons why Sei could explode anytime soon. Of course, we are all waiting for alt season to kick off. But Sei Network has three specific reasons why it can take off shortly.
So, the first reason is institutional interest in Sei and its real-world utility. For example, the Wyoming Stable Token Commission is looking for a candidate blockchain for $WYST. Sei Network is on their shortlist, with only one other blockchain. $WYST will be the first fiat-backed stablecoin issued by a US State. Wyoming will deploy it on LayerZero. Now, Sei will have to battle it out with Aptos.
However, Sei had has already left some well-known and reputable chains behind to make it to the last two. For example.
This is a big step forward for Sei, as it’s recognized as an American crypto innovator. This is one more step in the direction of becoming a money chain.
Furthermore, stablecoins are becoming the bridge between traditional and digital markets. Sei’s fast finality and commercial-grade availability can play an important role in this. An example is Circle applying to receive a National Trust Bank Charter. This allows Circle to manage their $USDC reserves. Sei has the infrastructure available to accommodate this.
Furthermore, it came to light that Circle holds a big bag of $SEI. This news, combined with the Wyoming news, saw the $SEI token surge 100% last week. The current $SEI price is 27 cents with a $1.5 billion market cap.
Canary Capital filed for a Sei ETF. One more step closer to bringing more institutions to Sei.
And last but not least, don’t forget that Trump’s World Liberty Finance already bought $SEI. That was to the tune of $1 million. WLFi is now $800k in profit in $SEI. That’s plus 80%!
Sei has also seen some explosive ecosystem growth recently. Its TVL is growing fast and is currently just over $600 million. This makes it 15th out of all chains. It was only a few days ago that TVL hit this new TVL ATH. As this DeFiLlama chart of its TVL shows, it started to kick off in early March this year.
There’s also DEX volumes on Sei hitting new record highs. This went hand-in-hand with on-chain volume. This shows evidence of a new growth phase for Sei. Furthermore, it highlights real usage on the Sei Network.
Wallet adoption is another hot item for Sei. Recently we saw the launch of the Sei Global Wallet. Furthermore, Bitget Wallet now also supports Sei. Once Sei finalizes the switch to become an EVM chain, all EVM wallets will be available to Sei. For example, MetaMask or Rabby Wallet, but also Phantom Wallet and many more.
Giga is one of the biggest improvements for Sei. It should give Sei’s EVM up to 50x improvements. So, in a nutshell and without getting too technical, EVM smart contracts only support 100 TPS. This means that EVM smart contracts lose out to Web2 apps, like Google. Google can process up to 100k complex TPS.
That’s where Sei v2 comes into the picture. This went live in July 2024. V2 introduced the first parallelized EVM. It offers,
These three factors made it the highest performance EVM ever. However, this was still not enough to meet throughput requirements by Google. And there are more Web2 apps like Google.
So that’s where Giga comes into play. Sei rebuilt EVM from the ground up. This will make Sei the highest throughput EVM chain. No other chain in the crypto sector can offer this. The current highest throughput for an EVM chain is around 5k TPS. However, Giga will offer 250k TPS. That’s well above what Google and the likes currently need. This will meet Web2 performance requirements. Financial transactions need fast confirmations.
Source: Sei Network blog
For this, Sei will also use a new consensus mechanism, called Autobahn.
Before I sign off, Sei is also exploring the AI sector. Another very promising crypto sector. So, keep an eye out for Sei and its $SEI token. Do you already own $SEI? Let me know in the comments. Also, do follow our social media outlets. There are lively discussions on our X account and our Discord channel.
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