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SEI is an L1 blockchain launched in August 2023.
A confluence of positive tailwinds has given its original SEI token a demon pump of 85% in the last week.
Earlier this week, the Vyering Stable Token Commission announced the selection of SEI (and APTOS), which is the first two candidates for its Wyst Stabecoin pilot, the first of its kind by an American state, as the last two candidates.
Two other factors are probably contributing to the price action of SEI.
First, the speed around the recent IPO of the circle, which is based on it S -1 filing6,250,000 SEI (today $ 1.9 million). The second is a pending SEI ETF Filed Back to Canary Capital in May.
SEI’s Onchain Economy Buzzy News How does it look beyond the headlines?
TVL is on up. It is about $ 564 million today, of which $ 418 million sits on the Yei Finance Money Market. In the last seven days, SEI is the fourth largest range by pure flow, $ 4.9 million,
Most of SEI is used by gaming. Based on DAPPRADAR, SEI has about 34% (7.38 million) of the web3 gaming market share by unique active wallets in the last 30 days.
(For reference, about Ronin 718k Active wallet in the same time period.)
Di, active wallets are one Infamous simplified metricBut it indicates a fairly strong niche that SEI has carved for itself in web 3 gaming.
Major games include the world of Dypians MMORPG on epic games, as well as mobile games such as Apprr Hunter and Hot Spring – on both App Store and Google Play. All three game rank in the top 10 most active games on SEI in the last 30 days.
Finally, technology.
SEI is already a very fast chain, almost processing today 100 mg per second (12.5k TPS) with a time-to-ability of 500ms.
Its upcoming “Giga” upgrade is set for even more ramps, for the target of 5 GGA per second, 200k TPS and a sub -400 ms targets the inflation.
These benefits come from a radical architectural overhaul:
- Autobahn is a multi-commercial consensus protocol that replaces the current single-proposer tenderint model.
- The consensus and execution will allow the decouting transactions to be ordered independently of execution, which will unlock as persuasion.
- Using block-STM-style techniques familiar with parallel execution-move-based chains-accelerates transaction processing in many core.
Loso of Blockworks Research told me: “One of the top options for its stabelcoin initiative (SEI’s) shows a strong vote of faith in technical abilities (SEI) for its stabelcoin initiative.”
For a comprehensive interpreter on SEI’s upcoming Giga upgrade and how it compares other series, see blockwork consultant Report On Sei.
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