Sei token price observes a sharp increase, reaching $0.3337, representing a 110% increase since the beginning of the month. Key factors influencing this growth include the partnership with Circle and the active development of the token's ecosystem.
Sei Price Growth and Success Factors
Sei token has risen to $0.3337, resulting in a market capitalization of over $1.6 billion. The increase is tied to Circle’s recent IPO, which reported ownership of 6.25 million SEI tokens. Additionally, Sei is being considered as one of the platforms for the new WYST stablecoin, with a decision expected on July 17.
Technical Analysis
Market analysis shows that Sei price formed a slanted double-bottom around $0.15 and crossed above the $0.2767 level. Current data suggests trend strengthening, with the directional index reaching 24. Further growth is projected with a potential target around $0.4340.
Sei Ecosystem and Its Development
The Sei network is actively expanding its decentralized financial solutions, with total value locked rising by 18% to over $634 million. In the gaming ecosystem, Sei is also witnessing growth, with over 8.45 million unique active wallets in the past month, an 80% increase compared to previous metrics.
Establishing partnerships and actively developing the ecosystem, along with technical indicators, may increase interest in Sei and contribute to further price growth.
