Key Takeaways

• The Sei blockchain is meant to make trading easier.
• On August 16 2023, its second day on the market, almost $1.9 billion worth of SEI was traded.
• However, there have been concerns about its airdrop. 
• One SEI price prediction said it could reach $0.6284 in two years time.

The Sei blockchain, a platform designed to make trading quicker and cheaper, came out in the summer of 2023. It generated a bit of a buzz, with early listings on such major exchanges as Binance (BNB) and Coinbase helping make it more accessible to curious investors. Nearly $1.9 billion worth of the blockchain’s SEI coin was traded on August 16. 

That said, there has already been some controversy about SEI. There have been complaints  about the system’s airdrop being slow to arrive, which did not endear it to it to certain parts off the cryptosphere.

On the other hand, there was good news in September. SEI has announced that it is working  with the ANKR crypto platform.

Sei did not immediately respond to a request for comment 

But what is Sei (SEI)? How does Sei work? Let’s see what we can find out, and also take a look at some of the Sei Price Predictions that were being made as of September 7 2023.

Sei Coin Price Prediction

With that all said and done, let’s examine some of the Sei price predictions being made on September 7 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. It is also worth noting that, because SEI is a relatively new coin, there will be fewer SEI price forecasts than there would be for a long-standing crypto like Ethereum’s Ether (ETH) coin.

Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term Sei price prediction which saw the coin drop to $0.1145 by September 11 before climbing to $0.1359 by October 6. The site’s technical analysis was neutral, with 11 indicators making bullish predictions and five making bearish ones.

Sei Price Prediction for 2023

In terms of other SEI price predictions for this year, CoinArbitrageBot  thought it could reach $0.1797. DigitalCoinPrice  said it would trade at $0.27. Bitnation  suggested SEI would be worth about $0.20. 

Sei Price Prediction for 2025

Moving on, Bitnation thought SEI would reach $0.4677 in 2025. DigitalCoinPrice thought the coin would get to $0.44. CoinArbitrageBot said the coin would surge to $0.6284 in two years time.

Sei Price Prediction for 2030

In terms of a long-term Sei price prediction, DigitalCoinPrice said the coin would reach $1.37 in 2030. Bitnation thought it would reach $1.14. Techopedia  said SEI would stand at $1.40 at the start of the next decade. 

Recent Updates from SEI

SEI recently announced  it would be teaming up with the ANKR crypto protocol. This move will see ANKR’s Remote Procedure Calls (RPC) help SEI connect with wallets across the blockchain. 

In theory, this should help developers create decentralized applications (DApps) on the network.

SEI Price History

Now, let’s examine the, admittedly short,  Sei price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Sei price prediction. That said, we do need to remember that there is not as much context to go on as there might be with a longer-standing crypto, such as Bitcoin (BTC). 

SEI first came onto the open market in August 2023. At the start of trading on August 15, it was worth $0.007989. That price still serves as its all-time low, because it soon went up to a high of $0.2086 before closing the day at $0.1776. 

The following day, it shot to an early all-time high of $0.2736. On August 17, the market crashed following the news that Elon Musk’s SpaceX had sold billions of dollars worth of Bitcoin. SEI slumped and, on August 29, it reached an all-time low of $0.119. 

Since then, it has made something of a recovery and, on September 7 2023, it was worth about $0.1325.

At that time, there were 1.8 billion SEI in circulation out of a total supply of 10 billion. This gave the coin a market cap of around $238 million, making it the 113rd-largest crypto by that metric. 

Is Sei a Good Investment?

It is, perhaps, a little too early to say. Keep in mind that SEI has only been trading for less than a month. This means we don’t know how well, or how badly, it will respond to market moves. 

We also don’t know whether it will be able to gain any traction. Although it does appear to offer a good deal, we don’t know if DEXes will move to the new blockchain or stay where they are. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in SEI.

Will Sei go up or down?

No one can really tell right now. While the Sei crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Sei?

Before you decide whether or not to invest in Sei, you will have to do your own research, not only on SEI, but on other, related, coins and tokens such as Solana (SOL) or Osmosis (OSMO). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

From the Whitepaper

In its technical documentation, or whitepaper , Sei says it aims to make trading easier. 

It says: “Sei is a general purpose, open-source Layer 1 blockchain specialized for for the exchange of digital assets. Leveraging a novel consensus and technical breakthroughs, Sei is the fastest blockchain in the industry.”

Sei (SEI) Explained

Crypto exchanges are one of the most important concepts in the crypto sphere. Since cryptocurrency does not have any intrinsic value, having a place where coins and tokens can be bought and sold helps set prices.

While the market is dominated by traditional, centralized exchanges (CEXes) like Crypto.com (CRO) they are not the only option for someone who wants to buy, sell, or trade crypto. Decentralized exchanges (DEXes), like Uniswap (UNI) are designed to allow people to choose whichever cryptos they want to deal with, and are backed by liquidity pools. 

However, DEXes are not without their flaws. One potential drawback is that, a lot of the time, decentralized exchanges can only deal with tokens that exist on their own native blockchain. 

Sei  is a blockchain designed to deal with that. Launched in the summer of 2023, the platform is supposed to allow people to trade crypto assets easily in the same place. Founded by Sei Labs bosses Jayendra Jog and Dan Edlebeck, Sei aims to be the fastest blockchain around. It is powered by the SEI coin. 

How Sei Works

The Sei blockchain promises transaction speeds of as little as 250 milliseconds. It uses a form of Proof-of-Stake (PoS) consensus mechanism to process transactions and add blocks to the blockchain. SEI holders are chosen to add blocks to the blockchain based on how many coins they hold.  

People who hold SEI can buy, sell, and trade it on exchanges. 

FAQs 

Further reading

Mina Price Prediction 2023: What is MINA?

BEN Price Prediction 2023: What is BEN?

Kaspa Price Prediction 2023: What is Kaspa (KAS)?

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.