SEI Surges 9% Amid Binance's Migration Deadline Announcement

The SEI cryptocurrency has experienced a notable price increase after Binance confirmed its plan to suspend legacy chain transactions from June 1. As part of this migration, the network will transition to full Ethereum Virtual Machine (EVM) compatibility.

This upgrade aims to make it easier for developers to deploy existing Ethereum smart contracts on SEI with minimal changes. The move is seen as an effort to attract more liquidity and talent by removing friction associated with building on a non-EVM chain.