On Tuesday, market watchers noticed a considerable decoupling in the altcoin compartment. Sei, a relatively fresh Layer-1 blockchain, is making waves with a 44.2% upswing in less than 24 hours. Hitting a quarterly high, SEIโs price is backed with a strong demand among crypto whales & rising on-chain liquidity, with the Seiโs DeFi sector claiming $1.15 billion in TVL.
Sei Defies Market Odds, Whatโs Behind It?
According to DefiLlamaโs real-time stats, the Layer-1 chainโs total value locked (TVL) secured a 16.97% uptick in 24 hours. The numbers testify a full-fledged rebound rally for decentralized applications (dApps) in virtually every category, with liquid staking providers, lenders & decentralized exchanges (DEXs) currently stealing the show.
Aside from the flurry of trending dApps, the L1 blockchain hosts a stablecoin ecosystem presently worth $225.56 million. The blockchain data suggests that SEI garnered over $51 million in daily trades on DEXs, hinting at rising demand for SEI-native meme coins & governance tokens.
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Meanwhile, perpetual trades on the L1’s decentralized exchanges (DEXs) are even busier with $113 million in 24-hour volume. This has produced a remarkable run to $0.289, putting SEIโs $1 and above goal back into discussion. Meanwhile, other major-cap altcoins saw slight rebounds after an all-red week in crypto & stock markets.
SEI Price Setup Points The Finger At $1.57
As noted by seasoned crypto analyst Solber Invest, SEI price has bounced off over 100% from the major demand zone of $0.12, marking the $1.57 as the next plausible target for SEI crypto. Notably, for SEI cryptoโs price that would mean tackling new all-time heights, as $1.14 remains SEIโs best price record, hit on March 16, 2024.
Whilst decoupling from the ongoing bearish crypto market trends, the altcoin’s market value managed to break through all degrees of the Bollinger Bands (BOLL), signaling a fundamentals-driven breakout. Bull Bear Power (BBP), a key metric for indicating whoโs at the steering wheel, has flashed the biggest bull takeover since December, 2024.
Meanwhile, other key factors like the Chaikin Money Flow (CMF) and Balance Of Power (BOP) hinted at positive momentum. The crypto whale flow-tracking CMF index hovered at 0.21 on the daily charts, while Balance Of Power (BOP) was situated at above 0.7, meaning that the bullish trend hadn’t faded off yet.
On The Flipside
- The Layer-1 altcoin is still 75.6% down from its $1.14 all-time record, scored over a year ago.
- The funding rate on SEI Derivatives stayed in negative figures despite the 44.2% upswing.
Why This Matters
Fundamentals-driven crypto rallies often defy the broader market trends. This time, Seiโs Layer-1 decentralized finance (DeFi) ecosystem edged the marketโs mild panic amidst the geopolitical squabbles with whale confidence & high trading volumes.
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People Also Ask:
SEIโs Wyoming stablecoin pilot and Coinbase Pro listing sparked a $855.6M trading frenzy. But hype can fade, so stay cautious.
The altcoin’s DeFi buzz make $1.5 possible, but overbought RSI signals a pullback risk. Geopolitical tensions could also cap gains.
Iran-Israel or U.S.-China drama can spook markets, potentially triggering sell-offs. Its project wins help, but global fear hurts alts.
SEIโs high-frequency trading edge and Wyoming nod drive its surge, unlike stagnant BTC or ETH. But market dumps could still hit.
SEIโs momentum is hot, but overbought signals and geopolitical risks scream caution. DCA small and DYOR, donโt FOMO chase $1.5.
