This Altcoin Jumped While Bitcoin Exceeded $38,000! Will the Rise Continue?

Bitcoin and altcoins became active following yesterday’s dovish statements by FED member Christopher Waller, who is generally known for his hawkish attitude and is known as the third most hawkish member of the FOMC.

At this point, optimism continues to prevail in the broader cryptocurrency market as BTC rises back above $38,000.

While altcoins are on the rise along with BTC, some altcoins managed to attract the attention of investors with their tremendous rise.

When looking at these altcoins, it was seen that Sei (SEI) was at the top.

According to data from CoinMarketCap, SEI experienced a massive jump overnight, rising as much as 36%.

SEI, which rose to $0.299 with this increase, continues to be traded at $0.281 with an increase of approximately 28% at the time of writing.

Although SEI experienced an initial rise after its launch, it later faced headwinds and experienced sharp declines.

But the latest surge has been the most significant growth so far this year, with SEI extending its gains over the past seven days to 74%.

At this point, analysts commenting on the rise in SEI stated that there was no specific catalyst for the SEI network and that this increase was completely organic. Analysts also added that expectations remain that the upward momentum in SEI will be sustained.

Apart from SEI, Terra Classic (LUNC) with a 27% rise and Stacks (STX) with a 21% rise are among the most profitable altcoins.

*This is not investment advice.