SEI's price surged over 10% on Wednesday, breaking out of a prolonged downtrend as buyers regained control. This breakout follows weeks of compressed trading activity, with the price now trading between $0.061 and $0.062. The move signals a structural shift, supported by rising total value locked (TVL) at $61.44 million and stablecoin liquidity, indicating sustained capital participation across the network.
Market activity shows robust engagement, with daily inflows nearing $922,835 and decentralized exchange volume at $6.29 million. Perpetual trading volume has reached $22.68 million, reflecting consistent demand. Derivatives markets also show increased interest, with trading volume jumping to $112.32 million and open interest at $66.15 million, suggesting new market positions rather than short covering. The breakout is reinforced by a surge in trading volume and balanced funding rates, indicating potential for further upward movement.
SEI Price Surges Over 10% Amid Rising Volume and TVL
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