Lucknow(CoinChapter.com): Crypto exchange Binance will list SEI Network’s native token, SEI, on Aug 15, and, according to data derived from Aevo’s pre-listing futures, it would trade for 26 cents.
Notably, the listing of SEI token will result in a circulating supply of 1.8 billion, representing 18% of the total supply of 10 billion, as disclosed by Binance. This translates to an initial market capitalization of a staggering $486 million, positioning SEI amongst the upper echelons of cryptocurrencies.
The valuation would secure SEI’s position among the ranks of the top 100 cryptocurrencies. According to the data received by Coingecko, SEI remains unavailable for trading on any cryptocurrency exchange.
Seamless Transition of SEI token to Live Trading on Binance
Once SEI becomes tradable on Binance, the pre-listing futures will smoothly transition to referencing the index price. This transition will facilitate funding rates to ensure harmony with the spot market value.
Given the experimental nature of this groundbreaking product, Aevo has introduced stringent position limits and open interest caps within these markets. The futures are margin-based and settled in dollar-pegged stablecoins, specifically USDC. This calculated approach reflects Aevo’s commitment to fostering a secure and controlled trading environment.
