[Sei Price Forecast: SEI price will rise 56% as TVL approaches $100 million]
Sei price surged 18% to $0.4136 over the past week, emerging as the biggest gainer among large and mid-cap altcoins. Trading volume surged 76% to $135 million, and market capitalization rose 20% to $1.3 billion, ranking it 67th among cryptocurrencies.
The Sei network’s decentralized finance (DeFi) total locked volume (TVL) is approaching $100 million, showing significant growth. Crypto research firm Messari noted that TVL grew 229% to $95.3 million in less than two months since the launch of Sei V2. This growth was driven by new product launches, strategic points programs and air capital injections.
Sei V2 introduces new DeFi protocols, including the "lending protocol" Yei Finance, which supports stablecoins USDT and USDC. In addition to reaching new highs in TVL, Sei is also expanding its ecosystem, particularly in the Web3 industry, and launching a $50 million Japan Ecosystem Fund to support gaming, social, and entertainment.
This week’s price increase shows traders’ growing interest in Sei, with investors anticipating a new price high, surpassing the previous price of $1.14. As per the current Sei price prediction, the 50-day EMA offers immediate support at $0.3877.
Sei could rise a further 56% to $0.77 after breaking out of a falling wedge pattern. Traders should keep an eye out for buy signals from the Moving Average Convergence Divergence (MACD) indicator, with Sei holding above $0.4, showing strong upward momentum.
