$SEI 's sharp drop yesterday likely due to:

1. **Market-wide crash** – Bitcoin & altcoins plunged, dragging SEI down.

2. **Profit-taking** – Recent 31% surge (June 2025) led to sell-offs.

3. **Liquidation pressure** – High leverage positions wiped out.

4. **Low volume** – Thin liquidity amplified downside moves.

5. **Competition fears** – Layer 1 rivals (Solana, Ethereum L2s) gaining traction.