SEI Trading Early at $0.2 USD Ahead of Official Listing
Despite not yet being officially listed, SEI, the token of Sei Network's layer-1 blockchain, is already trading long/short around the $0.2 USD mark on the Aevo derivative platform.
SEI Trading Early at $0.2 USD
Similar to IOU debt futures, Aevo's Pre-launch Token Futures product allows investors to speculate and trade futures contracts of SEI, the eagerly anticipated coin set to debut soon.
On Aevo, SEI is trading at a predicted price of $0.2 USD, down from its peak of $0.26 USD.
Price fluctuation of SEI futures contracts on the Aevo exchange
SEI is set to be officially listed on Binance at 19:00 on August 15, with trading pairs SEI/BTC, SEI/USDT, and SEI/BNB, as announced by the exchange. The initial supply of SEI on Binance will be 1.8 billion tokens, equivalent to 18% of the total supply of 10 billion SEI tokens.
Thus, with an estimated valuation of $0.2 USD as seen on Aevo, SEI's immediate market capitalization is projected to reach $360 million post-listing, placing it among the top 100 largest cryptocurrencies by market cap, according to CoinMarketCap data.
Sei Network is a layer-1 blockchain project specifically designed for DeFi, aiming to become a foundational platform for future financial systems. In April, the project raised an additional $30 million through two funding rounds, valuing Sei at over $800 million.
Late last year, the layer-1 platform committed to airdropping 1% of the total supply to early network adopters, which, while significant, is considered minimal given the project's substantial user base. Additionally, extensive testnet tasks have been time-consuming.
However, as of now, just five days before the token's launch, Sei Network has yet to provide specific details regarding the airdrop reward distribution to its users.
