SEI Network Fees Drop by 25%, Boosting Market Confidence

• SEI transaction fees have decreased by nearly 25% in the last four months, making the network more cost-efficient.
• The Sei v2 upgrade boosted daily transactions to 5 million and increased total value locked (TVL) by 229%.

SEI Network continues to attract interest from blockchain analysts and traders, with transaction fees falling considerably over time.

According to a recent tweet from blockchain analyst Cooltimes, SEI transaction fees are now about 25% lower than they were four months ago, indicating a consistent improvement in the network’s cost-efficiency.

This reduction in transaction costs is projected to make SEI more appealing to both retail and institutional users, hence increasing its market position.

$SEI tx fee’s continue to get cheaper.

almost 25% cheaper than 4 months ago.

the tech is working 🔴 pic.twitter.com/9l7tnwYAp6

— cooltimes🧊 (@cooItimes) September 13, 2024

CNF earlier announced that in February 2024, Sei Network’s subscriber base increased significantly, reaching 950,300. The release of Sei v2, which promised significant improvements in network performance and scalability, was the main driving force behind this increase.

As expected, the release of Sei v2 resulted in significant modifications, particularly to the network’s transaction capacity and value locked in. The upgrade increased daily transactions to 5 million, with a total value locked (TVL) increase of 229% to $95.3 million.

SEI Positioned for Strong ROI in Upcoming Market Boom, Says Analyst 

Cooper, a crypto analyst, commented on SEI’s recent price swings, stating that the token had bounced back from a crucial demand zone, as expected. He stressed that SEI has identified a source of interest that could drive future price growth.

Cooper noted in his analysis that SEI is one of the few tokens in the blue-chip altcoin category that has the potential to produce one of the finest returns on investment (ROI) during the upcoming market boom. His prediction is consistent with the growing confidence about the Sei Network’s long-term potential.

SEI is currently trading at about $0.3052, up 1.09% over the last 24 hours, with a daily trading volume of $66.78 million. This recent price movement demonstrates the increased interest in the token, particularly as it continues to consolidate its market position.

Furthermore, as we previously noted, a popular analyst recently projected a 200% rise for SEI if it breaks out of its Falling Wedge pattern. This pattern is commonly regarded as a bullish signal, and a breakout could result in a big increase in SEI’s price.