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SEISEI Hits Stratospheric Highs: Unveiling the Bullish Surge Amid Partnership Triumph In a sensational turn of events, Sei (SEI) has catapulted to new heights, experiencing a staggering 50% surge and reaching an unprecedented all-time high (ATH) at $0.355464. As the 79th largest cryptocurrency by market cap, SEI’s meteoric rise, now valued at $772,043,882, has raised eyebrows and ignited discussions about its future trajectory. Partnership Power and EVM Support: Driving Forces Behind SEI’s Rally Fueling this astronomical ascent is Sei’s strategic partnership with Circle, the driving force behind the second-largest stablecoin, USDC. Additionally, Sei’s embrace of the Ethereum Virtual Machine (EVM) has added an extra layer of momentum to its surge. These groundbreaking developments, announced just last month, have set the stage for SEI’s impressive performance, reaching and surpassing its previous ATH of $0.295 in November. Trading Volume Surge and Social Buzz: Indicators of Unprecedented Momentum SEI’s surge is not merely numerical; it’s backed by tangible indicators of market enthusiasm. The trading volume for SEI has skyrocketed by an astonishing 413% in the last 24 hours, totaling a remarkable $725,373,521. This surge has crowned SEI as the top 24-hour gainer among the elite top 100 cryptocurrencies, according to CoinMarketCap. Simultaneously, the social volume surrounding SEI has witnessed a remarkable 154% increase. Platforms like Telegram and X have become hubs of discussions, with crypto enthusiasts and investors actively engaging in conversations about SEI’s extraordinary surge. The community’s fervor, coupled with financial growth, paints a vivid picture of SEI’s current dominance in the digital currency landscape. SEI’s Open Interest Skyrockets: What Lies Beyond? A noteworthy aspect of SEI’s recent surge is the significant spike in total open interest (OI), soaring by an impressive 123% within a single day. The figure has ascended from $33.8 million to an impressive $75.4 million. However, the distribution between long and short positions remains a mystery, leaving room for speculation about the underlying dynamics at play. Technical Analysis: Navigating the SEI/USD Landscape Delving into the technical intricacies, the Chaikin Money Flow (CMF) on the SEI/USD price chart reveals a positive trend with a rating of 0.37. This suggests a prevailing buying pressure in the SEI/USD market, where the influx of money exceeds the outflow, potentially propelling its price even higher. On the flip side, the stochastic RSI value for SEI/USD stands at 77.08, signaling an overbought condition. This might trigger a short-term correction or consolidation as investors consider capitalizing on profits. A high or rising stochastic RSI rating could hint at potential corrections or declines in SEI/USD prices. Conclusion: Balancing Act for SEI Amidst Bullish Triumph In conclusion, Sei (SEI) has scripted a remarkable saga with its explosive surge to all-time highs. The partnership with Circle and EVM support has undeniably propelled SEI into the limelight. The surge in trading volume, social engagement, and open interest paints a bullish narrative, yet the cautionary notes of overbought conditions linger. As SEI enthusiasts revel in the euphoria of its unprecedented rise, the balancing act lies in acknowledging the potential for short-term corrections amidst the bullish triumph. The journey ahead for SEI promises excitement and intrigue as market dynamics continue to unfold.
by TheCryptoCity
Back to break renge zone (SEI)❤️❤️Thanks for boosting 🚀 and supporting us! 📈now we are in bull 5-candle and need to resting in bull-trend that with back-to-break last renge zone. 📊 (Buy) : 0.301 🔴 Stop Loss : 0.272 🎯 Take Profit : 0.321 - 0.350 - 0.371 - 0.402 🔗 For more communication with us, In the footnote and send a message in TradingView. 👨‍🎓 Experience and Education: Our trading team has five years of experience in financial markets, especially cryptocurrencies.
Long
by ahmadarz
4
SEI Token Surges 35%, Reaching New All-Time HighSei (SEI) has been registering notable gains over the past month with the asset’s recent rally over the 24 hours helping it reach a new all-time high (ATH). SEI surged by 35% in the past 24 hours and is currently trading at $0.2659, marking a new ATH. The asset’s market cap stands at $645 million at the time of writing. Data shows that Sei’s daily trading volume has surpassed its market capitalization, hovering around the $656 million mark. It’s important to note that only 2.175 billion SEI tokens have been added to its circulating supply so far, which has a total supply of 10 billion coins. Moreover, Sei registered an 85% and 170% surge over the past week and past 30 days, respectively. SEI is still sailing in the bullish zone as it’s above the $0.22 support zone. A price plunge below the $0.20 resistance zone could potentially put the asset in a highly volatile condition. Last week, SEI registered a 91% surge in seven days after a strategic investment from Circle, the issuer of the second-largest stablecoin USDC. Sei blockchain to add Ethereum Virtual Machine support in V2 upgrade Trading-focused Layer 1 blockchain Sei will add support for the Ethereum Virtual Machine (EVM) in its upcoming version 2 (V2) upgrade. This will enable developers to port Ethereum-based contracts over to the network and use them on it. To add this feature, Sei V2 will incorporate Geth, a Go implementation of the Ethereum Virtual Machine. Geth is the most widely used Ethereum client software. Expanding on Sei V1 Sei has been operational on the mainnet beta since the V1 launch in August, offering support for Cosmos smart contracts written in Rust. With Sei V2, the team behind it aims to broaden its appeal to a wider range of developers. The development will add a fully parallelized EVM-compatible layer with sub-second finality (the speed at which transactions are confirmed). What is Sei? Sei is a Cosmos SDK-based proof-of-stake blockchain, designed to be optimized for trading with its ability to execute sub-second blocks. In April 2023, Sei Labs, the core developer of the network, raised $30 million in two strategic funding rounds from venture firms including Jump and Multicoin Capital. With functionality that supports fast decentralized trading, Sei targets a specific niche where it competes with other Cosmos chains like Osmosis, Kava, Injective, Neutron and Kujira.
Long
by DEXWireNews