$SEI Soaring: TVL Skyrockets✴️✴️✴️
According to insights from analyst Kyledoops on X, the TVL of Sei Network has reached a new ATH.
“With more capital flowing in and increased on-chain activity, the SEI ecosystem is clearly attracting new attention,” said Kyledoops.
The price of SEI surged 100% in June, driven by a pilot stablecoin backed by the US government, increasing institutional interest, and a growing ecosystem. Recently, Sei Labs proposed SIP-3 to transform the Sei network into an EVM-only model, removing support for CosmWasm and native Cosmos.
However, this token has dropped more than 78% from its peak in March 2024 and is currently trading at US$0.2649. According to analysis by ChiefraFba on X, the price level of US$0.2540 serves as critical support on the 8-hour chart. If this level fails to hold, SEI may face a correction towards US$0.2000.
This scenario poses challenges for investors, requiring close monitoring amid market fluctuations. However, with extraordinary TVL growth and regulatory support from Japan, many experts remain optimistic about the potential for recovery and sustained upward momentum for SEI in 2025.
