Sei Layer-1 chain nears $1 billion in daily trading volume as native DeFi ecosystem thrives in every section.
On Tuesday, market watchers noticed a considerable decoupling in the altcoin compartment. Sei, a relatively fresh Layer-1 blockchain, is making waves with a 44.2% upswing in less than 24 hours. Hitting a quarterly high, SEI’s price is backed with a strong demand among crypto whales & rising on-chain liquidity, with the Sei’s DeFi sector claiming $1.15 billion in TVL.
Sei Defies Market Odds, What’s Behind It?
According to DefiLlama’s real-time stats, the Layer-1 chain’s total value locked (TVL) secured a 16.97% uptick in 24 hours. The numbers testify a full-fledged rebound rally for decentralized applications (dApps) in virtually every category, with liquid staking providers, lenders & decentralized exchanges (DEXs) currently stealing the show.
Aside from the flurry of trending dApps, the L1 blockchain hosts a stablecoin ecosystem presently worth $225.56 million. The blockchain data suggests that SEI garnered over $51 million in daily trades on DEXs, hinting at rising demand for SEI-native meme coins & governance tokens.
Meanwhile, perpetual trades on the L1’s decentralized exchanges (DEXs) are even busier with $113 million in 24-hour volume. This has produced a remarkable run to $0.289, putting SEI’s $1 and above goal back into discussion. Meanwhile, other major-cap altcoins saw slight rebounds after an all-red week in crypto & stock markets.
SEI Price Setup Points The Finger At $1.57
As noted by seasoned crypto analyst Solber Invest, SEI price has bounced off over 100% from the major demand zone of $0.12, marking the $1.57 as the next plausible target for SEI crypto. Notably, for SEI crypto’s price that would mean tackling new all-time heights, as $1.14 remains SEI’s best price record, hit on March 16, 2024.
Whilst decoupling from the ongoing bearish crypto market trends, the altcoin’s market value managed to break through all degrees of the Bollinger Bands (BOLL), signaling a fundamentals-driven breakout. Bull Bear Power (BBP), a key metric for indicating who’s at the steering wheel, has flashed the biggest bull takeover since December, 2024.
Meanwhile, other key factors like the Chaikin Money Flow (CMF) and Balance Of Power (BOP) hinted at positive momentum. The crypto whale flow-tracking CMF index hovered at 0.21 on the daily charts, while Balance Of Power (BOP) was situated at above 0.7, meaning that the bullish trend hadn’t faded off yet.
On The Flipside
Why This Matters
Fundamentals-driven crypto rallies often defy the broader market trends. This time, Sei’s Layer-1 decentralized finance (DeFi) ecosystem edged the market’s mild panic amidst the geopolitical squabbles with whale confidence & high trading volumes.
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