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SEI ETF Filing has set the crypto market ablaze, fueling a massive 40% rally that pushed Sei ($SEI) to a peak of $0.2872 and firmly positioning the blockchain as the second-largest EVM-compatible chain.
Investors are now speculating whether the token can break past the $0.30 level, or even aim for a bold $0.50 target.
The SEI ETF Filing by Canary Capital in May has become the cornerstone of this rally. The news has ignited investor optimism, echoing the price action witnessed after Bitcoin’s ETF approval in January 2024.
As markets rebounded following geopolitical de-escalation in the Middle East, SEI led the charge with a jaw-dropping session, rising from $0.194 to nearly $0.29 in just hours.
At the heart of the momentum is more than just ETF hype. According to DappRadar, Sei now boasts over 8.1 million active wallets, making it the second-largest EVM chain.
Its TVL (Total Value Locked) has surged 24% in just 24 hours, soaring past $535 million. This adds tangible weight to the bullish narrative surrounding the SEI ETF Filing.
Trading volume also exploded by 254%, reaching $784 million — nearly half of SEI’s $1.55 billion market cap.
Market participants are quick to attribute this to renewed confidence stemming from the ETF news and Sei’s rapid ecosystem growth.
“The SEI ETF Filing could be the start of something big,” said Matthew Finch, a blockchain ETF strategist at Blockworks Research. “The same way Bitcoin ETFs opened institutional doors, a SEI ETF could catalyze institutional DeFi interest on newer, faster chains.”
Technical momentum backs this optimism. SEI has officially broken out above its five-month resistance wall at $0.26, with the RSI climbing to 72.48 — a level that typically signals overbought conditions but often precedes extended bullish runs during high-volume breakouts.
In a surprising move, the Wyoming Stable Token Commission chose the Sei blockchain over heavyweights like Ethereum, Base, and Avalanche for the issuance of the state’s official fiat-backed stablecoin, WYST.
Sei’s selection followed a scoring system where it earned 30 points, beating out Ethereum (26), Avalanche (27), and Ripple (22). This gives further legitimacy to Sei’s claims of being a scalable, institution-ready chain.
“This kind of endorsement from a U.S. state is a powerful validator,” noted Tanya Zhou, Head of Research at Messari. “It signals that SEI’s architecture is seen as not only competitive, but governance-friendly.”
Further bolstering the rally is the explosive growth in daily transaction volumes and wallet activity. Nansen reports a 60% weekly spike in fee generation, while daily transactions on Sei now exceed 1.4 million, nearly doubling week-over-week.
This backdrop strengthens the case for a continued price surge. With the SEI ETF Filing acting as a speculative tailwind and real user growth solidifying the fundamentals, SEI’s current trajectory is being watched closely by retail and institutional investors alike.
The technicals suggest more upside. Analysts at CryptoQuant indicate that a confirmed break above the $0.30-$0.35 resistance band could set the stage for a mid-term advance to $0.50, a 70% move from current levels.
“If it clears $0.35 with sustained volume, the next real resistance is around $0.50,” said crypto chartist CW8900. “And beyond that, SEI could reclaim its December highs or even chart new territory.”
Still, traders are advised to watch the $0.26 level closely. A failure to hold above it could lead to a retest of support zones before another bullish leg kicks in.
From explosive price action to growing institutional recognition, the SEI ETF Filing marks a turning point in the blockchain’s journey.
With user numbers ballooning, TVL rocketing, and U.S. state-level adoption in play, Sei is no longer a dark horse — it’s a dominant force poised for greater things.
As investor sentiment heats up, the SEI ETF Filing may just be the launchpad that propels SEI to the top tier of the crypto world.
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