The SEI cryptocurrency has returned to the spotlight due to its impressive price surge and active network support.
Price Surge of SEI and Its Causes
SEI cryptocurrency has demonstrated a 45% increase from its weekly low of $0.158 on Tuesday, climbing to $0.228 in the last 24 hours. This surge was fueled by strong bullish momentum that emerged after a bearish trend since early May.
Record DEX Volume and Token Demand
Recently, SEI recorded a record DEX volume of over $263 million for the week. In just 24 hours, token volume surged to $284 million, marking the highest levels observed in four months. This reflects increasing network activity and heightened interest in SEI.
Support from Wyoming and SEI's Future
SEI gained additional momentum by being shortlisted among blockchains considered for supporting the launch of the WYST stablecoin in Wyoming. The selection criteria included network speed and efficiency. Additionally, SEI has shown a significant number of active addresses in the gaming sector over the last 30 days.
Despite the overall bearish market conditions, SEI is demonstrating strong performance thanks to high DEX volume and governmental support, indicating potential further growth.
