In the last 24 hours, SEI’s price surged by an impressive 15.14%, fueled by rising market interest and investor activity. The asset is now poised to challenge the $1 milestone, a critical level that could cement its growing role in the crypto market.
Growing Market Interest Boosts Adoption
SEI’s blockchain saw a significant uptick in adoption, reaching a record 871,000 users in a single day. This surge signals heightened interest from participants who were previously inactive. Increased user engagement often correlates with positive price momentum, as it drives critical metrics influencing SEI’s performance.
Key Milestones for SEI
SEI has achieved several major milestones recently:
- Transaction Volume: Transaction activity has returned to levels last seen in August, reflecting growing user interactions.
- Total Value Locked (TVL): SEI’s TVL hit a record $218 million, indicating strong investor confidence. A high TVL suggests positive sentiment, as more funds are staked or deposited into the ecosystem.
- Developer Activity: The number of smart contracts deployed on SEI has reached an all-time high. This signals increased innovation and ecosystem development, further boosting market confidence.
SEI Derivatives Show Strong Momentum
Derivatives traders are also contributing to SEI’s rally. Trading volume soared by 222.21%, reaching $1.78 billion. Open Interest, which tracks the total value of unsettled derivative contracts, rose 39.25% to $281.29 million.
The combination of these factors highlights a strong bullish sentiment in the market. With this momentum, SEI is well-positioned to achieve new price highs in the near future.
