SEI emerged as one of the day’s top-performing cryptocurrencies, rallying 33% as the broader market rebounded and decentralized finance (DeFi) activity on the Sei blockchain surged to near-record levels.
According to data from crypto.news, SEI rose to $0.268 on June 24—its highest price since May 12—marking a gain of over 90% from its April lows. The token’s market capitalization climbed to $1.49 billion, while daily trading volume soared to $557 million, up 175% from the previous day.
The rally came in tandem with a wider crypto market recovery. The global crypto market capitalization rose 2.5% to $3.36 trillion. Bitcoin broke above $105,000, and major altcoins such as Ethereum, XRP, Solana, and Dogecoin also posted solid gains.
Positive sentiment was further fueled by geopolitical developments, including a potential ceasefire between Israel and Iran announced by U.S. President Donald Trump, signaling a resolution to the 12-day conflict that had pressured global markets.
Beyond favorable macro conditions, SEI’s price action was also driven by strengthening on-chain fundamentals. According to DeFiLlama, the total value locked (TVL) on the Sei blockchain surged to $1.13 billion—nearly doubling from $526 million at the start of the year and approaching its all-time high of $1.15 billion set in May.
This rapid growth has been propelled by the rising adoption of DeFi applications built on Sei. Yei Finance, a lending platform modeled after Aave, currently holds around $820 million in assets, while Takara Lend has attracted $80 million in TVL.
Stablecoin activity on the network has also expanded significantly. The total stablecoin supply on Sei has reached over $225 million, up from just $1.2 million in March. USDC leads the pack, comprising 83.3% of the stablecoin market share on the chain.
Revenue from DeFi protocols on Sei has followed suit. Monthly earnings have surged from $116,000 in March to $562,000 in June, reflecting increased transaction volume and broader ecosystem engagement.
SEI price analysis
From a technical standpoint, SEI has broken out of several bullish formations, most notably surpassing the upper resistance of a multi-week descending channel—an indicator of a potential trend reversal.
SEI has also broken out above a symmetrical triangle pattern that had been developing since February, reinforcing a bullish continuation outlook.
The token is now trading above both its 50-day and 200-day moving averages, confirming a strong upward trend. Technical indicators further support this momentum: the Supertrend has turned bullish with a green signal, while the MACD has formed a bullish crossover—both pointing to the likelihood of sustained upward movement.
As a result, the next key upside target for SEI is $0.36, aligning with the 38.2% Fibonacci retracement level from its year-to-date high.
Should macroeconomic conditions remain favorable and on-chain momentum persist, SEI could aim for the $0.50 psychological resistance zone, which corresponds with the 61.8% Fibonacci retracement level.
