SEI token succeeded to grab huge popularity among crypto Investors because of listing support at top crypto exchanges.
Sei Labs, a company that builds technology for the open-source layer 1 (L1) Sei blockchain, already secured huge popularity in the crypto space during the testnet alpha phase of the Sei blockchain. In the testnet alpha launch phase, sei testnet saw over 400 million transactions and generated 7.5 million unique testnet crypto wallets.
On 15 Aug 2023, Sei Labs announced the mainnet launch of the Sei blockchain. Following the mainnet launch, Sei token secured listing support at the top crypto exchanges, namely Binance, Bybit, Bitget, and Coinbase.
Following such high-profile support at big crypto exchanges, the Sei token hit a $0.4+ trade price. Overall Sei token saw a net 3,100% increment in the trade price.
The current trade price of the Sei token is $0.24 & this trade price is 28% higher than the last 24 hours’ trade price.
The main vision of the Sei blockchain is to bring a high level of efficiency to crypto trading across the decentralized crypto exchanges.
As we know that there are some better Layer-2 scaling networks to solve the high trade fee issues but Defi exchanges find it highly challenging to utilize the Layer-2 networks over Layer-1, so here Sei blockchain aims to tackle these challenges via better efficiency through its Layer-1 network. In short, here we can say that the Sei blockchain aims to provide highly efficient & fast crypto transactions via its decentralized network.
Press release read:
“Current Web 3 infrastructure is unscalable, congested, and still too slow. Sei is designed to let apps and other projects scale in a way that no other blockchain can, while also maintaining a user-friendly experience.”
So here we can also expect to get better scaling ability by the Sei blockchain.
As per available information, the Sei blockchain can provide scalability 5–10 times greater than most other networks e.g. Solana, Aptos, etc. And also this new network will process the transactions within 500 milliseconds.