SEI crypto surged by 31%, defying the market trend and outperforming other altcoins like SUI and Solana.
SEI's price soared from $0.158 to $0.268, showing a bullish structure amidst a stagnant market.
The rally was supported by record network activity, with DEX volume hitting an all-time high, and token volume reaching $284 million in a day.
SEI Network was shortlisted for Wyoming's WYST stablecoin, enhancing its credibility in institutional settings.
SEI is gearing up for the Giga upgrade, promising increased throughput and faster block times, adding to investor optimism.
Technical indicators suggest sustained momentum for SEI, with strong support at $0.16 and a next target at $0.30.
SEI's Total Value Locked increased by 1.62% to $506.38 million, highlighting elevated DeFi activity.
Despite the possibility of a pullback, SEI still appears underpriced compared to its potential, with analysts projecting a significant upside potential.
SEI's rally is backed by network usage, investor confidence, and positive technical signals, indicating a solid foundation for further growth.