Binance Joins Sei Network as Validator
Crypto exchange Binance has joined Sei Network as a validator, the Sei Development Foundation revealed on Thursday. This strategic move is expected to significantly boost trust in the blockchain among investors, institutions, and the broader global crypto community.
According to an official announcement by the Sei Foundation, Binance's participation as a Sei validator highlights confidence in Sei's capability as the preferred settlement layer for institutional-grade finance. This aligns with the network's overarching vision of scaling to support high-performance, enterprise-grade infrastructure.
The Sei Network currently processes an impressive 4.5 million transactions daily, with its peak Total Value Locked (TVL) surpassing $680 million as of July this year. With over 70 million wallets already on the network, Binance's involvement is anticipated to attract more enterprise-grade partners.
The network already supports tokenized funds from prominent financial institutions such as BlackRock, Brevan Howard, Hamilton Lane, and Apollo. The growing trend of Real World Asset (RWA) tokenization is being embraced by traditional finance (TradFi) players who see immense potential in bringing traditional financial products onto the blockchain. This initiative is further supported by several infrastructure partners, including Circle, the issuer of the USDC stablecoin, MetaMask, Securitize, KAIO, Etherscan, and Ondo.
Binance Announces SEI Rewards Promotion
In conjunction with this development, Binance has announced a special promotion on its Simple Earn product, offering a Boost APR on SEI locked products. Users have the opportunity to earn a share of a total of 1,497,409.48 SEI tokens through this promotion, which is valid until January 4, 2026.
The rewards structure includes both a Base APR and a Boost APR. Users who opt for selected locked products will receive Boost APR rewards in addition to the Base APR, offering potentially higher returns for investors and traders.
Binance has stated that the actual Annual Percentage Rate (APR) may fluctuate based on the total daily subscriptions received during the promotion period. The announcement clarifies that a lower subscription amount will result in a higher APR, whereas a higher subscription amount will reduce the APR until the daily rewards are fully distributed.
Analyst Predicts Higher Price Targets for SEI
Crypto analyst Ali Martinez has observed a bullish chart pattern on the daily timeframe for SEI, indicating a buy signal near the channel's bottom at $0.15. Martinez suggests that this pattern points towards a potential major rebound for the cryptocurrency.
Amidst the current weak sentiment in the broader crypto market, he recommended accumulating SEI tokens during dips. Martinez has projected year-end price targets of $0.23 and $0.36 for the token.
Despite the positive analyst outlook and Binance's validator announcement, traders have not yet shown a significant immediate reaction. At the time of writing, the SEI price was trading 1% lower at $0.162. The 24-hour trading range was between $0.160 and $0.168. Furthermore, trading volume has decreased by 25% in the last 24 hours, suggesting a temporary dip in trader interest.
However, data from CoinGlass indicates some positive signs in the derivatives markets over the past few hours, with total futures open interest rising by 3% in the last four hours. Despite this uptick, the 24-hour SEI futures open interest remains down 1.65% at the time of writing. Open interest on Binance futures has fallen by nearly 5%, while Bybit futures saw a 2% increase.