SEI, a blockchain platform, has made significant strides, demonstrating price increases and trading volume. This development attracts attention from both retail and institutional investors.
Reasons for SEI's Growth
The 31% increase in SEI's price in one day is linked to the selection of the platform by the Wyoming Stable Token Commission for a potential state-backed stablecoin. SEI scored a perfect score in the tech evaluation, outperforming Ethereum and Base.
Increased Activity and Implementation
Activity on SEI's decentralized exchanges also supports the rally. Daily trading volume on these exchanges reached a record $327 million, driven by protocols like SailorFi and DragonSwap. There's also a rise in the number of active wallets: over 8.1 million, tied to the popularity of gaming DApps.
Technical Analysis and Prospects
The current rally of SEI aligns with a bullish breakout from a falling wedge pattern. Analysts point to signs of trend continuation, while the price remains above key support levels. Fundamental factors, including regulatory position and high platform activity, further strengthen SEI's status.
SEI continues to attract attention in the crypto market thanks to a combination of technological achievements, an expanding user base, and bullish trends. Its emergence on the regulatory radar creates opportunities for further growth.
