SEI, the native token of the Sei blockchain, has surged 22% to reach a new all-time high of $0.79. This impressive price increase comes after a relatively lackluster launch and airdrop in August 2023. However, several key developments and indicators in the Sei ecosystem have contributed to this sudden surge in price.
As of now, SEI’s price stands at $0.75414, with a market capitalization of $1.73 billion and a 24-hour trading volume of $1.23 billion. Over the past 24 hours, the cryptocurrency has experienced a significant increase of 12.45%. Its growth over the past 30 days has also been remarkable, with a growth rate of 186.27%.
One of the main growth drivers for SEI has been the Sei Network’s achievement of processing over 1.1 billion transactions. This milestone indicates a growing real-world adoption of the blockchain, which, in turn, has driven investor interest in the SEI token.
Technological advancements have also played a crucial role in SEI’s price surge. Sei has reduced its time-to-finality to just 390 milliseconds, making it one of the fastest blockchain networks. Additionally, the implementation of internal parallelization of the Ethereum Virtual Machine (EVM) has enhanced the efficiency of decentralized applications on the Sei blockchain.
Partnerships and developments like the Atlantic-2 Testnet and the Pacific-1 Mainnet beta launch have further contributed to the credibility and growth of the Sei network. Strategic partnerships with entities like Kryptonite and Gecko Terminal have also helped drive investor interest in SEI.
Furthermore, the recent meme coin fever has played a significant role in the price surge of SEI. The term “SEIYAN” has become a cult term among SEI token holders, driving further interest and investment in the cryptocurrency.
SEI has demonstrated remarkable market performance, consistently showing a high number of green days, indicating sustained demand. Its high liquidity and market capitalization make it an attractive choice for traders and investors alike.