The rise in reputation of EVM-compliant blockchains and the parallelization course of is driving the expansion of the Sei Community’s SEI token, which has gained over 75% up to now week. Sei Community launched in August as a trading-focused blockchain backed by outstanding buyers Bounce Crypto and Multicoin Capital. It was designed with a concentrate on velocity, low charges and different options tuned to assist sure sorts of buying and selling apps. The community’s SEI tokens reached a $400 million capitalization inside the first 24 hours after issuance, however gained little within the subsequent few months as on-chain buying and selling habits remained subdued. Nonetheless, the latest token buying and selling frenzy in blockchains similar to Solana and Avalanche is driving speculators to wager on blockchains aside from Ethereum, the standard favourite, and networks similar to Sei are benefiting.