The $SEI first-layer (L1) currency is the biggest winner in the market today, having risen by a staggering over 36% in the past 24 hours.
This double rise comes amid a sharp increase in network flow volumes, indicating renewed investor interest and a movement of capital toward the network.
Recovery #SEI with rising net flows
The Sei network recorded one of the largest net flows among all chains in the past 24 hours. It ranked fourth in net interconnected flows, outperforming major networks like #Solana during that period.
Highest connected net flows.
According to Ar, tamis, the $SEI network has seen
Net connected flows amounting to $3 million in the past 24 hours. In comparison, the leading network Solana saw net outflows of $5 million during the same period.
This increase in flows indicates rising user activity, and perhaps growing investor confidence in the Sei ecosystem. According to the data provider, only #ARBİTRUM and Base and #Ethereum have seen higher net flows.
With capital flowing into the network, $SEI has seen an increase in demand, reflected in the rising Chaikin Money Flow (CMF) indicator. As of this writing, this momentum indicator stands at 0.22.
SEI CMF Indicator.
The CMF indicator measures how money flows in and out of an asset. Positive readings indicate that money accumulation outweighs selling activity among currency holders. On the other hand, when the CMF indicator for an asset is below zero, selling pressure dominates the market.
For SEI, its CMF setup reinforces the belief that the current rise is supported by strong demand and liquidity.
SEI challenges market stagnation
The price of the alternative currency is trading at its highest level in four months at $0.28 at the time of publication. In fact, amid the overall weak market performance over the past week, the price of SEI has risen by more than 65%.
With rising inflows and momentum indicators flashing green, SEI may continue to outperform in the near term. If demand remains high, the price of the currency could rise toward $0.36.
SEI Price Analysis.
However, if demand declines and profit-taking begins, the price of SEI could breach the support level at $0.27 and drop to $0.23.