SEI Surges 13% Following the Launch of the Beta Version of Its Sei v2 Mainnet, Hailed as the “Most Performant EVM Blockchain Ever Built.”

SEI, the native token of Layer 1 blockchain Sei, has surged 13% following the launch of the beta version of its Sei v2 mainnet, which it hailed as the

Layer 1 blockchain Sei’s native token SEI has seen a 13% surge after the beta launch of its Sei v2 mainnet, which the network touted as the “most performant EVM blockchain ever built.”

SEI was up 12.5% over the last 24 hours and traded at $0.3422, according to CoinMarketCap. The crypto asset also saw $211 million in trading volume over the last day. This represents a 48.2% surge for the sector-specific Layer 1 blockchain, which is designed exclusively for trading to give exchanges a “competitive edge.”

The recent surge in SEI’s market value also follows an announcement from the Sei team regarding the official launch of the “Sei v2 mainnet beta,” which they claim is “the most performant EVM blockchain ever built.”

Phase 2 is now complete ✅Sei v2 mainnet beta is officially here and It’s the most performant EVM blockchain ever built.The future starts here, read more about the Sei vision and the journey ahead here: https://t.co/KKsuBclMgrOne thing is clear since the recent launch of… pic.twitter.com/Fo344nV8qf

The network, which facilitates fast and cheap crypto trading, recently integrated Geth into its system. This popular Ethereum software is widely used by developers to build decentralized applications (DApps) and other Web3 solutions on Ethereum, the second-largest blockchain by market capitalization.

Previously, Sei’s v1 beta mainnet, which was built using the Cosmos SDK, launched in August 2023 after the network had completed two successful funding rounds that saw $30 million being raised from investors, including Jump Trading and Multicoin Capital.

The completion of phase 2 of Sei v2 also comes after the Sei Foundation announced the launch of a new $10 million grant fund to fuel growth in NFT and Social projects. The foundation stated that this initiative will support a wide range of creators and builders, focusing on collections, applications, infrastructure, content creation, and in-real-life (IRL) events.