I’m hesitant to share this, but I believe it’s important for the community to be aware. $SEI appears to be overvalued.
The founders have withdrawn funds exceeding the total value locked (TVL) in their system, which stands at $20 million.
Their reliance on the Ethereum Virtual Machine (EVM) technology is considered outdated compared to newer blockchain innovations.
In contrast, projects like $SUI and Aptos are at the forefront of blockchain technology, incorporating state-of-the-art consensus mechanisms, utilizing new and more secure programming languages for smart contracts, and enabling parallel execution. Notably, Sui has a TVL of $600 million.
While having a substantial market cap is not inherently problematic, it’s perplexing that SEI’s market cap surpasses that of Sui, given the latter’s technological advancements and innovation.
I suggest focusing on genuine innovation rather than getting caught up in the hype.
