Crypto enthusiasts, prepare yourself for this is hardware wallet because there is a new player in town and it makes noise. I give you Sei, the token that has been scaling the charts as if it is a squirrel trying to scale up a tree. With a jaw-dropping 22. in the last 24 hours only it has grown by 64% now costing as low as $0. 3373, a question that many investors have been left wondering while asking ‘Sei what?’
Well let us analyse it, shall we? The market cap of Sei has grown tremendously to $1,189,108,565, putting the coins in the 60th position in the market. For that, it is like having skipped the minor leagues and get to the World Series in the course of the season. The trading volume has also had quite a dramatic increase with an additional of 92. 38% to the $230391274 in the last day. The image gives a perception as if traders are rushing to Sei as seagulls to ice cream dropped on the beach.
Now, let’s talk numbers. As at the time of writing this report, the SEI token is in circulation at 3,524,861,111 and is a small part of the total token supply limit of 10,000,000,000 SEI. Notably, none of these has the maximum supply listed as is common with most cryptocurrencies. In the crypto world, that is equivalent to saying, “The sky is the limit!” Well, is it? Only time will tell.
But what lies behind the novel Sei phenomenon all of a sudden? Is it just another crypto FOMO (fear of missing out), or is there some reason stronger than this behind this increase? Though it is never easy to come up with absolute reasons especially in the volatile market of cryptocurrency, some people are attributing this to the kind of blockchain technology that Sei has embraced.
Actually, Sei is far from being just another blockchain project that wants to become the new Ethereum or Bitcoin. These people are dedicating their efforts towards the development of a blockchain system for trading. In a time where time is of the essence, what could be more compelling that Sei’s offer of high-speed trading, coupled with integrated order flow matching?
Just imagine, if you could have the decentralization of speed of a central exchange with the decentralization of security and decentralization of decentralized finance? That’s the sweet spot Sei is trying to hit and perhaps the reason why it is doing so well. But that is kind of the game here in the crypto world as it appears they have taken the elements from one and incorporated them into another forming a blockchain-flavored shake really. Tasty, right?
Of course, as with everything that involves investment, especially when we’re dealing with such a highly volatile field as crypto, one must be careful. One would not be wrong, the crypto market is as volatile as a cat on a hot tin roof. Today’s advanced positions could be identical to the declines of tomorrow and a similar statement applies to the decline positions of today. Thus though Sei’s recent performance looks promising is always advisable to do your research and invest safely. Just giving a reminder that in the crypto landscape FOMO is actually the last thing you want to experience!
In the big picture, Sei’s recent gains may be the beginning of a romance between investors and high-performance blockchains. Or they might be a few moments of fame in the entertainment industry before the next fad takes over. Well, at this point that is anyone’s guess. That said, one thing is clear – Sei has established its authority or at the very least, its existence in the world of crypto.
So, what’s your take? Sei is one of the hottest tokens in the market right now, however, the question is whether it is the next big hit in the industry or just another hype? The future will only tell what will become of this place but for sure it is going to be an exciting experience to witness this area. Still at the moment only people who have their offices in the vicinity of Caffè di Bali might use Sei to run a couple errands. For now, keep your crypto wallet within a reach and your private keys even closer!
Just as a reminder the cryptocurrency world is unpredictable and you never know what can happen. Today you are struggling to be among the best, tomorrow you challenge even Bitcoin which is among the worlds most popular Cryptocurrencies. Therefore, stay alert, have your mind focused and better still, you might just be lucky to be the first to notice the next big opportunity before it comes crashing down.
In the meantime, let all of sit down and watch the Sei show because she is all drama. A ‘remarkable increase’ grew 210% this year; will it sustain such a growth or is it headed for a ‘remarkable decrease’? Will it give a new turn to trading on the blockchain or it will be another news on the crypto screen? In any case, it’s clear one thing – the crypto world is as far from boring as it can get, and with such tokens as Sei, it only gets more exciting from here on. So fasten your seat belts, dear lovers of crypto currency for it is going to be a bumpy ride!
