The current landscape surrounding the SEI cryptocurrency raises considerations regarding price movement and the rise in user activity.
Price Consolidation and Breakout Potential
As of the writing, SEI is trading around $0.32 after a 5% drop over the last 24 hours. Analysts are noting the price movement within a symmetrical triangle pattern. This formation, indicative of lower highs and higher lows, often precedes strong price moves.
The token is trading just below the $0.33 level, which aligns with the 50% Fibonacci retracement. Analyst Ali Martinez pointed to $0.31 as a possible short-term dip level. This area is near the 0.382 Fibonacci line at $0.317. He added that a move above $0.35 could be the trigger for a breakout toward $0.44, representing a 40% gain from current prices.
New Infrastructure for Institutional Trading
Sei Labs recently launched Monaco, a new protocol designed for institutional trading. Monaco operates on a Central Limit Order Book model and is built to support high-speed transactions. The Sei Network blog reports that it offers execution under one millisecond and settlement around 400 milliseconds.
Gordon stated, *“SEI is building the infrastructure for a decentralized Wall Street,”* describing Monaco as the first DeFi app directly incubated by Sei Labs.
User Activity Growth on Sei Network
Daily activity on the Sei Network has been steadily increasing. Data from Artemis shows over 851,000 daily active addresses, which is a 22% rise in the past month. Over a three-month span, this number is up by 84%. Some days have crossed one million users.
This growth reflects more users interacting with the network. The timing coincides with the release of Monaco, which may have contributed to boosting activity.
Current trends around SEI indicate significant potential for price growth and user activity, especially with the launch of new trading infrastructure.
