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% previously 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 deal with 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 conduct remained subdued. Nonetheless, the latest token buying and selling frenzy in blockchains corresponding to Solana and Avalanche is driving speculators to guess on blockchains aside from Ethereum, the standard favourite, and networks corresponding to Sei are benefiting.