SEI crypto: Market confidence grows as 3 key areas surge

• SEI traded at all-time highs across its Total Value Locked (TVL), active user numbers, and transaction volumes.
• Derivative traders were driving momentum, which could propel SEI to unprecedented levels.

In the past 24 hours alone, Sei’s [SEI] price surged by an impressive 15.14%, showing heightened market activity and investor interest.

As SEI builds on its recent gains, the asset appears primed to challenge the $1 mark—a critical milestone that could reinforce its position as a leading player in the market as the bull market materializes.

Increased market interest

Recent data revealed a significant uptick in new users on SEI’s blockchain, with the total reaching an all-time high in the past 24 hours.

At press time, the number of users stood at an unprecedented 871,000, marking a milestone previously unattained by the network.

Source: X

Such a sharp increase in user adoption typically signals heightened interest from market participants who had remained on the sidelines.

This growing engagement often translates to positive momentum for the asset’s price.

The effects are already evident, with this cohort of users driving factors that are critical to SEI’s market performance and price trajectory.

SEI hits new highs

SEI has reached new milestones across several key areas, reflecting renewed market interest and increased activity among participants.

Transaction volume has surged, returning to levels last seen in August. This uptick signals increased engagement and stronger interactions within the market.

Source: X

One notable achievement is SEI’s Total Value Locked (TVL), a critical indicator of market health that measures the total value (in USD) of cryptocurrency staked, locked, or deposited into a blockchain or protocol.

A higher TVL reflects positive sentiment, while a lower TVL suggests caution.

In the past 24 hours, SEI’s TVL climbed to a record-breaking $218 million, which shows the deep interest and confidence of investors.

Developers are also driving SEI’s growth. The number of smart contracts deployed on the blockchain has reached an all-time high, coinciding with increased developer activity.

This indicates that broader improvements and innovations are underway alongside the deployment of new contracts, which further solidify SEI’s ecosystem.

SEI derivatives steps in

Derivative traders have demonstrated a high interest in SEI, playing a role in the 222.21% increase in trading volume, which had reached $1.78 billion at press time.

At the time of writing, Open Interest—which tracks the total value of unsettled derivative contracts—has also seen a significant spike, rising by 39.25% to $281.29 million.

Source: X

Read Sei’s [SEI] Price Prediction 2024–2025

The confluence of these factors reaching new highs, coupled with strong participation from derivative traders, highlights a general bullish consensus in the market.

This momentum could potentially push SEI’s price to new peaks in the near future.