Coins Research — Sei (SEI) — 21 November 2025

TL;DR

• Idea: A sector-specific Layer 1 blockchain optimized for high-speed, low-latency trading and DEX activity via parallelized EVM execution.
• Catalyst: OKX listing on Nov 14 boosted on-chain volume; upcoming integration with Coinbase Ventures portfolio and expanding DeFi ecosystem partnerships.
• Risks: Competition from established L1s and L2s; token unlock schedule may pressure price; adoption dependent on DEX integrations and developer tooling.
• Score: 7.00/ 10

Coin

• Name/ Ticker: Sei (SEI)
• Segment: Layer 1
• Status: active
• Price: $0.153175

Key Metrics

• Market Cap: $975 726 447
• FDV: $1 530 000 000
• Circulating Supply: 6 370 000 000
• Total Supply: 10 000 000 000

Sources

1. https://coinmarketcap.com/currencies/sei/
2. https://coinmarketcap.com/currencies/sei/usd

Technology

• USP: First sector-specific Layer 1 built for DEXs, offering parallel order matching and ultra-low latency.
• Core Technology: Custom parallelized EVM engine with multi-proposer architecture, specialized mempool, and high-throughput consensus.

Roadmap

• 2023-08-16: V1 Public Mainnet Launch
• 2024-02-13: V2 Public Devnet Launch
• 2025-09-09: Parallelized EVM Mainnet Upgrade (Sei V2)

Team & Investors

Team

• Co-Founder — Jayendra Jog: UCLA graduate; ex-Robinhood software engineer
• Co-Founder — Jeff Feng: UC Berkeley graduate; ex-Goldman Sachs banker
• Growth & Markets Director — Phillip Kassab: U Michigan Ross graduate; ex-Trader Joe’s marketing lead
• Head of Ecosystem — Dan Edlebeck: Ex-Peace Corps; former roles at Badger Labs and Cosmos-based projects

Investors

• Multicoin Capital — Seed • 2022-08-01 • $5.00M
• Coinbase Ventures — Seed • 2022-08-01 • $5.00M
• GSR — Seed • 2022-08-01 • $5.00M
• Jump Crypto — Series A • 2023-04-11 • $30.00M
• Foresight Ventures — Strategic • 2023-04-12 • $50.00M
• Flow Traders — Series A • 2023-04-11 • $30.00M
• Hudson River Trading — Strategic • 2023-04-12 • $50.00M

Total funding: $95.00M

Tokenomics

• Utility: Governance, staking, transaction fees, and DEX order matching incentives.
• Vesting: 20% unlocked at TGE; 27% unlocked after 12 months; remainder over 48 months.
• Next Unlock: 2026-10-15 (27.00% of circulating)

Pros & Cons

Strengths

• Optimized for high-frequency trading on DEXs
• Parallelized EVM for 200k TPS
• Strong venture backing and ecosystem fund
• Experienced team from top tech and finance firms
• Growing DeFi ecosystem with $600 M TVL

Weaknesses

• High competition from other L1s and rollups
• Significant token unlock schedule may weigh on price
• Adoption reliant on DEX integrations
• Network centralization risk in validator set
• Complex technology may slow developer onboarding

Market Signals (7d)

• TVL trend: -17.44%
• Active addresses trend: -12.3%

Price Scenarios (target: 2026-05-21)

• Bear: $0.080000 — Assumes reversion to 0.5× current P/F ratio based on historical average
• Base: $0.150000 — Projects current adoption and inflation schedule continuation
• Bull: $0.350000 — Forecasts 2× growth in TVL and fee revenue driving price uplift

How to Buy & Store

CEX

• OKX
• Binance
• Coinbase
• Kraken
• KuCoin

DEX

• Astroport
• Komple
• SushiSwap
• Sei DEX
• Raydium

Storage

• MetaMask
• Trust Wallet
• Ledger
• Trezor
• Coinbase Wallet

Verdict

Sei’s unique L1 design for trading and DEX activity positions it well, but token unlocks and intense competition pose risks.

Official Links

• Whitepaper
• GitHub
• Messari