Binance to List CYBER and SEI: Could They Reach $500M Market Caps?

• Binance announced today that it will be listing CYBER and SEI tomorrow at 12:00 UTC.
• The prices of both SEI and CYBER may surge given the fact that this is their first major exchange listing.
• SEI, a general purpose blockchain project, has the backing of both Coinbase Ventures and Jump Capital.

Binance, the leading cryptocurrency exchange in terms of daily trading volume, announced on its official blog today that it will be listing CyberConnect (CYBER) and Sei (SEI). According to the post, the platform will add CYBER/BNB, CYBER/BTC, CYBER/FDUSD, CYBER/TRY, CYBER/USDT, SEI/BNB, SEI/BTC, SEI/FDUSD, SEI/TRY and SEI/USDT tomorrow 12:00 UTC.

Furthermore, the announcement revealed that Binance Spot Grid will be enabled for the CYBER/BTC, CYBER/USDT, SEI/BTC and SEI/USDT trading pairs within 48 hours of the trading start time. The prices of both tokens are likely to surge shortly after the listing, given the fact that this will be the first major exchange listing for both tokens.

With regards to CyberConnect, the project held its first initial exchange offering (IEO) of 3,000,000 tokens on Coinlist on 18 May 2023. During this IEO, the project raised $5.4 million according to data from Cryptorank. The project then initiated a second, smaller IEO of 6,000 tokens on Bitmart between 19 May 2023 and 20 May 2023. During this raise, raising $10,800.

From a technical standpoint, CyberConnect V3 is a web3 social network that focuses on giving users control over their digital identity, content, and social interactions. The project introduces three key features: CyberAccount, CyberGraph and CyberID.

CyberAccount aims to revolutionize the onboarding experience for multi-chain web3 activities, simplifying gas payments across networks through the use of CYBER tokens. Meanwhile, CyberGraph establishes a secure framework for recording user-generated content and enabling connections across a spectrum of blockchains.

This system has an adaptable middleware structure that is claimed to guarantee tamper-proof data storage and facilitate content monetization through tokenization. Lastly, the concept of CyberID, embodied within ERC-721 tokens, introduces a novel user account handle.

Sei is an open source layer 1 general purpose blockchain network. What sets the project apart from other networks is its underlying consensus mechanism, which enables parallel execution and industry-leading finality, while delivering a smooth user experience for apps built on its blockchain.

Cryptorank indicated that Sei was able to raise $35 million through 2 funding rounds. These funding rounds saw investments come in from key players in the cryptocurrency space, including Coinbase Ventures and Jump Capital.

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