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The Sei Foundation’s plans to unveil a major upgrade to Sei blockchain version 2 caused a 10% surge in the value of Sei (SEI) token. 
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 <img loading="lazy" loading="lazy" decoding="async" width="1005" height="475" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/Sei-Foundation-V2-Upgrade-Plan-Sparks-10-Surge-in-SEI-Token-Price.png" alt="Sei Foundation V2 Upgrade Plan Sparks 10% Surge in SEI Token Price
" class="wp-image-177888" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/05/Sei-Foundation-V2-Upgrade-Plan-Sparks-10-Surge-in-SEI-Token-Price.png 1005w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Sei-Foundation-V2-Upgrade-Plan-Sparks-10-Surge-in-SEI-Token-Price-800x378.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Sei-Foundation-V2-Upgrade-Plan-Sparks-10-Surge-in-SEI-Token-Price-768x363.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Sei-Foundation-V2-Upgrade-Plan-Sparks-10-Surge-in-SEI-Token-Price-860x406.png 860w" sizes="auto, (max-width: 1005px) 100vw, 1005px">
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 SEI Price Chart | Source: CoinMarketCap
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This upgrade aims to introduce a high-speed, parallelized Ethereum Virtual Machine (EVM), enhancing network speed and compatibility with Ethereum contracts. 
The Sei Foundation’s <a href="https://sei.explorers.guru/proposal/55" target="_blank" rel="noreferrer noopener">proposal</a> for the V2 upgrade marks a significant milestone. Sei Labs promises sub-second transaction finality and improved user experience with the new parallelized EVM. 
Pending governance approval, the upgrade is set for implementation by May 27, promising enhanced blockchain performance and compatibility with Ethereum apps like Uniswap and Frax. 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 It's happening. The Sei v2 gov proposal is live – if it passes, the mainnet upgrade will be next Monday May 27th. Time to go Super Seiyan. <a href="https://t.co/P4y9WIlHXy" target="_blank">https://t.co/P4y9WIlHXy</a>— Jay (@jayendra_jog) <a href="https://twitter.com/jayendra_jog/status/1792618334501900632?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 20, 2024</a>
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Sei’s integration of EVM support, announced in November 2023, emphasizes smoother transitions for Ethereum-based contracts. Using Geth for V2, Sei aims for seamless integration and improved scalability with SeiDB, a new data structure. 
SEI’s market cap rose to $1,703,079,430, with trading volume increasing significantly by 169,977,799 shares to 163.11%; it is currently <a href="https://coinmarketcap.com/currencies/sei/" target="_blank" rel="noreferrer noopener">trading</a> at $0.5835, reflecting a 10.51% surge from its low point. 
This bullish trend showcases market optimism regarding Sei’s upgraded functionalities, setting a positive outlook for its future performance. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/21/ether-soars-16-as-odds-of-sec-approving-etfs-rise-to-75/" target="_blank" rel="noreferrer noopener">Ether Soars 16% as Odds of SEC Approving ETFs Rise to 75%</a> 
</blockquote>

Sei Foundation V2 Upgrade Plan Sparks 10% Surge in SEI Token

The Crypto Times

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