SEI Token Surges 35%, Reaches New All-Time High
Sei (SEI) has experienced significant gains in the past month, with its recent rally propelling it to a new all-time high (ATH).
New ATH and Trading Volume
In the past 24 hours, SEI surged by 35%, reaching a new ATH of $0.295. Its market cap currently stands at $645 million. Notably, Sei’s daily trading volume has exceeded its market capitalization, hovering around $656 million.
Circulating Supply and Performance
It’s important to note that only 2.175 billion SEI tokens have been added to its circulating supply out of a total supply of 10 billion coins. Over the past week and month, Sei has seen an 85% and 170% surge, respectively.
Social Activity and Bitcoin Influence
According to data from Santiment, Sei’s social activity has seen a slight increase recently, with discussions primarily occurring on X (formerly Twitter) and Telegram. This new ATH for SEI coincides with Bitcoin surpassing the $38,000 mark on November 28th.
Bullish Zone and Strategic Investment
Investors Observer notes that SEI remains in the bullish zone as it is above the $0.22 support level. However, if the price drops below the $0.20 resistance zone, it could potentially become highly volatile. Last week, SEI experienced a 91% surge in just seven days following a strategic investment from Circle, the issuer of the second-largest stablecoin USDC.
Hot Take: SEI Breaks Records and Continues to Gain Momentum
Sei’s recent rally has propelled it to a new all-time high, marking significant gains for the asset. With a surge of 35% in the past 24 hours and a trading volume surpassing its market cap, SEI continues to attract attention in the crypto market. Its circulating supply and performance over the past week and month demonstrate its upward trajectory. The social activity surrounding SEI has increased, coinciding with Bitcoin’s own rise. As long as SEI remains above key support levels, it is expected to maintain its bullish momentum. The strategic investment from Circle further solidifies SEI’s position in the market.
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