The rise in recognition 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 distinguished traders Bounce Crypto and Multicoin Capital. It was designed with a give attention to velocity, low charges and different options tuned to help 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 current token buying and selling frenzy in blockchains equivalent to Solana and Avalanche is driving speculators to wager on blockchains apart from Ethereum, the standard favourite, and networks equivalent to Sei are benefiting.