A new product launched by decentralized exchange Aevo allows investors to speculate on the future price of SEI, a tier 1 blockchain project expected to be listed on Binance on August 15.
SEI Token Could Reach Half Billion Market Cap on Binance Listing
SEI Network is a scalable and interoperable blockchain platform that aims to provide a decentralized infrastructure for Web 3.0 applications.
The project's native token, SEI, will begin trading on Binance, the world's largest cryptocurrency exchange by volume, on Sunday.
According to data from Aevo's pre-listing futures market, investors are bullish on the SEI token and expect it to trade at $0.26 immediately after listing.
The pre-launch futures market is a new product that allows investors to express their bullish or bearish views on tokens waiting to be listed on the exchange.
“Pre-launch futures enhance price discovery as users can go both long and short,” Julian Koh, Co-Founder and CEO of Aevo, said in a statement.
Based on the current price of $0.26 and a circulating supply of 1.8 billion tokens, SEI will have a market cap of $486 million and is expected to be among the top 100 cryptocurrencies.
According to data tracked by Coinecko, SEI is currently not traded on any cryptocurrency exchange.
Once SEI begins trading on Binance, pre-listing futures will begin to reference the index price and demand funding rates from investors to keep prices in line with the spot market value.
*Not investment advice.
