SEI is currently trading just above $0.35 after rising nearly 40% over the past week and doubling in value over the last month. However, an upcoming token unlock could put pressure on the price.
This surge marks SEI’s highest level since January, drawing renewed attention to the layer-1 blockchain ahead of a scheduled $20 million token unlock that may test the rally’s resilience. The recent price increase has been supported by strong growth in both on-chain activity and market engagement.
Data from DefiLlama shows that Sei’s total value locked (TVL) has climbed from about $200 million in January to $661 million at the time of writing — a more than 230% increase. The protocol briefly hit an all-time TVL high of $673 million on June 12 and has since remained near that level, with much of the liquidity concentrated in Yei Finance, which holds $366 million.
Decentralized exchange volumes have also picked up, averaging $65 million over the past five days, reflecting increased trader participation on Sei-based platforms. Meanwhile, the market capitalization has risen above $2 billion, signaling growing capital inflows despite the token still being down 69% from its all-time high of $1.14 reached in March 2024.
This momentum faces a potential turning point with a scheduled unlock of 55.56 million SEI tokens—worth approximately $20 million—set for July 15, according to Tokenomist.
Although this unlock represents just under 1% of the current circulating supply, token unlocks can impact short-term sentiment and increase selling pressure if holders decide to cash out. Traders will be closely watching how the market absorbs the new supply.
In anticipation of the unlock, SEI’s trading volume has increased over 28% in the past day to nearly $500 million. Derivatives activity reflects heightened speculation, with Coinglass data showing open interest rising 2% to $351 million and futures volume jumping 24% to $977 million.
Technically, SEI remains in a strong uptrend, holding above the upper Bollinger Band. The relative strength index (RSI) stands at 70.4, just above the threshold for overbought conditions. Major moving averages across both short- and long-term timeframes are signaling buy, while momentum and MACD indicators continue to support bullish sentiment.
However, the commodity channel index (CCI) has entered a high-risk zone, suggesting the token may be short-term overextended and vulnerable to a pullback. Although there is no immediate reversal signal, any negative sentiment surrounding the upcoming unlock could prompt a cooldown.
If SEI manages to break decisively above $0.36 on rising volume, it could push toward $0.40 or higher. Conversely, a rejection and a close back below $0.33 would weaken the bullish outlook and could trigger short-term profit-taking.
