SEI Token Could Reach Nearly Half a Billion Market Cap on Binance Debut

Dominant cryptocurrency speech Binance is set to list furniture 1 blockchain SEI Network's autochthonal token SEI connected Aug. 15. As of now, traders spot SEI changing hands astatine 26 cents instantly aft the debut, information from decentralized speech Aevo's pre-listing futures show.

Aevo's pre-listing futures marketplace debuted connected Wednesday with SEI contracts, allowing traders to speculate connected the imaginable post-listing terms of the cryptocurrency. The merchandise is analogous to IOU futures offered by immoderate exchanges.

"The pre-launch futures amended terms find arsenic users tin spell some agelong oregon short," Aevo's Co-founder and CEO Julian Koh told CoinDesk.

SEI's circulating proviso upon listing volition beryllium 1.8 cardinal oregon 18% of the full proviso of 10 billion, per Binance. So, astatine an aboriginal terms of 26 cents, the cryptocurrency volition person a marketplace headdress of $486 cardinal and fertile among the apical 100 cryptocurrencies. As of now, SEI is not disposable for trading connected immoderate cryptocurrency exchange, according to information tracked by Coingecko.

Once the cryptocurrency goes unrecorded connected Binance, the pre-listing futures volition commencement referencing the scale terms and complaint backing rates to traders to support prices aligned with the spot marketplace value.

In different word, the pre-listing futures volition go perpetual swaps aft the speech listing. Funding rates are periodic payments by bullish agelong oregon bearish abbreviated presumption holders. Longs wage shorts erstwhile perpetuals commercialized astatine a premium to the spot price. Meanwhile, shorts wage longs to support their bearish bets unfastened erstwhile perpetuals commercialized astatine a discount.

Aevo has enactment strict presumption limits and unfastened involvement caps successful these markets, considering the experimental quality of the product. The futures are margined and settled successful the dollar-pegged stablecoins USDC.