Bittime - Sei Foundation announced plans to upgrade the Sei network to version 2 (v2) which will introduce ahigh-power parallel EVM This upgrade is predicted to have a positive impact on network functionality and the price of the SEI token, which recently jumped 11%.
Multi-Phase Improvements for Sei v2
To minimize risks, the Sei Foundation plans to roll out Sei v2 gradually in three phases. The first phase will focus on validating software updates and transitioning the existing Sei Pacific-1 mainnet to the new “v2” iteration. This will pave the way for implementation of EVM-based contracts and infrastructure integration on the Sei network.
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Parallel EVM Improves Network Functionality
The introduction of parallel EVMs in Sei v2 is expected to improve overall network functionality. EVM is a computing environment that allows developers to create and deploy Ethereum-compatible smart contracts. By integrating parallel EVMs, Sei aims to increase scalability and attract more developers to its platform.
Also read: The differences between Ethereum Classic (ETC) and Ethereum (ETH) that you need to know
SEI Price Soars After Announcement
Interestingly, the announcement of the Sei v2 upgrade has been met with a surge in the price of the blockchain's native token, SEI. SEI is currently trading around $0.5830, surpassing the previous resistance level of $0.560. This price increase shows market optimism regarding the potential for v2 improvements.
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SEI Price Monitoring Post Upgrade
Although SEI prices show a positive trend, approval of the upgrade proposal is still required. If the upgrade is approved and implemented successfully, the key resistance levels to watch are $0.592, $0.613, and $0.637. Conversely, if the SEI price experiences a correction, the $0.544 and $0.527 levels may act as support for price stabilization.
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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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