Sei (SEI) has experienced substantial gains over the past 24 hours, marked by a 52% surge in price, propelling it to a new all-time high of $0.3501. The impressive performance has positioned Sei as the 81st-largest cryptocurrency, with a market cap of $799 million.
Sei’s recent rally extends beyond its price surge, as both social activity and open interest (OI) have more than doubled within the same 24-hour period. According to data from Santiment, Sei’s daily trading volume witnessed a 433% increase, reaching $680 million.
The Relative Strength Index (RSI) for Sei also saw a notable increase, rising from 39 to 57 within the past day. In a broader context, Sei’s recent success is complemented by strategic partnerships and technological advancements.
Last month, Circle, the entity behind the second-largest stablecoin, USDC, announced a strategic collaboration with Sei’s layer-1 blockchain. Additionally, Sei Labs revealed that Sei v2 would support the Ethereum Virtual Machine, enhancing its capabilities and potential use cases.
As Sei continues to capture the spotlight with its exceptional performance, market analysts closely observe whether the cryptocurrency can sustain its momentum and navigate potential corrections in the ever-evolving crypto landscape.
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