Sei ($SEI) has seen a remarkable surge of 40% following a decisive break above the $0.20 psychological resistance level.
The cryptocurrency market experienced a swift recovery in the wake of recent ceasefire developments between Iran and Israel, with many tokens in the top 100 showing significant gains.
Among them, SEI has emerged as a standout performer, climbing from a session low of $0.194 to reach a high of $0.2872, ultimately consolidating at $0.2799 during the latest trading session.
Source: Finance Newso
This sharp price increase was matched by impressive trading volume, which exceeded $784 million—an astonishing 254% jump from the previous session, amounting to nearly 50% of SEI’s $1.55 billion market capitalization.
SEI Rises to No. 2 EVM Position with 8.1 Million Users as TVL Soars 24% to $535M
Market analysts attribute SEI’s exceptional performance to renewed interest in the ETF application submitted by Canary Capital in May.
The Sei Network has emphasized that obtaining ETF approval could act as a driving force for broader blockchain adoption, significantly increasing demand for the SEI token. This outlook draws parallels to Bitcoin’s substantial price increase following its own ETF approval in January 2024.
In parallel, the Sei blockchain ecosystem is witnessing considerable growth in its user base.
Recent data from DappRadar reveals that the Sei Network has advanced to second place among EVM-compatible blockchains, now hosting over 8.1 million active wallet addresses.
Sei is now the #2 EVM chain by users https://t.co/rxvjAnos6e
— Sei (@SeiNetwork) June 24, 2025
In the past 24 hours alone, the total value locked (TVL) within the Sei network surged by 28%, now surpassing $542 million.
Source: DefilLama
Insights from Nansen indicate that Sei ranks as the second-fastest growing blockchain in terms of fee generation over the past week, boasting an impressive 60% increase, trailing only Aptos with a 78% growth rate.
Additionally, the number of active wallet addresses on SEI has tripled, while daily transaction volumes have doubled, averaging 1.4 million transactions per day.
Wyoming Selects SEI for Stablecoin Launch over Ethereum, Base, and Avalanche
On June 19, the Sei Network received official recognition from the Wyoming Stable Token Commission as a qualified blockchain candidate for the deployment of WYST.
Sei Network has been selected by the Wyoming Stable Token Commission as a candidate blockchain for WYST
WYST is the first fiat-backed stablecoin issued by a U.S State and will be deployed using @LayerZero_Core.
The updated candidate list is publicly accessible on The… pic.twitter.com/a2PV26bHyR
— Sei (@SeiNetwork) June 19, 2025
WYST represents the first fiat-backed stablecoin to be launched by a governmental entity in the United States.
Sei secured a competitive score of 30, outperforming notable rivals such as Base (25), Sui (26), Avalanche (27), Ethereum (26), Algorand (21), and Ripple.
These advancements signal a growing adoption of layer-1 blockchains, a trend that analysts anticipate will positively impact the valuation of the SEI token.
Cryptocurrency traders have reported that SEI has effectively broken through essential trendline resistance above the $0.25 mark.
6/ PRICE ACTION: Weekly Timeframe
This is where things get more bullish.$SEI confirmed this bullish divergence by breaking above $0.25
Despite the big green candle, this pattern holds the potential to take $SEI to $0.40
The price still has over 2X to achieve for hitting… pic.twitter.com/1LpwkzFy3G
— Our Crypto Talk (@ourcryptotalk) June 24, 2025
The token is presently confronting a substantial sell wall at elevated price levels.
Crypto analyst CW8900 suggests that if SEI manages to break through this resistance cluster, it could advance smoothly towards $0.44, where the next significant selling pressure zone lies.
This outcome indicates that SEI might possess approximately 2X potential upside to reclaim peak levels seen in December.
Optimistic traders and risk-tolerant investors are even speculating on more ambitious long-term forecasts, anticipating a remarkable 25X appreciation that would elevate individual SEI tokens to $7.
COOL FACT: $Sei is the only ALT rn that can smash a 25X increase in price which brings it to $7 pic.twitter.com/V8wRaj5Duf
— Josh (@JoshyOnChain) June 24, 2025
Five-Month Breakout: SEI Shatters $0.26 Resistance Barrier
The daily technical analysis of the SEI/USDT pair highlights a bullish breakout above five-month resistance at $0.26, propelling the price action to around $0.280 with an impressive 41.9% gain in a single day.
This breakout reflects robust bullish momentum, reinforced by significant volume growth and an RSI reading of 72.48, which indicates an overbought condition, typically a sign of sustained buying pressure but could also suggest potential near-term consolidation risks.
Source: TradingView
If the bullish momentum persists, the next immediate target lies at $0.35, a critical resistance zone that previously functioned as a major distribution area.
A decisive break above this level could open the door for a medium-term rise towards $0.50, offering a potential 70% gain from current valuations.
Conversely, a failure to maintain support above $0.26 could necessitate a retest of the breakout zone before resuming a subsequent upward phase. Currently, this breakout affirms a trend reversal, with bullish sentiment firmly holding sway in the market.
The post SEI ETF Filing Sparks 40% Rally as it Becomes #2 EVM Chain—$0.30 Next? appeared first on Finance Newso.
