The parallelized EVM narrative is seemingly favoring holders of Sei Network’s SEI tokens, which have yielded gains of more than 75% for buyers over the past week and were the best-performers on the first day of 2024. EVM, short for Ethereum Virtual Machine, is a virtual computer where all smart contracts and Ethereum applications are deployed. An EVM-compliant blockchain is another network that can run such applications. Sei Network launched in August as a trading-focused blockchain backed by prominent investors Jump Crypto and Multicoin Capital. It was designed with a focus on speed, low fees and other features tuned to support certain kinds of trading apps.
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