SEI Achieves $1 Billion Market Cap Following Transition to Ethereum
SEI Cryptocurrency Update
- SEI, the native token of Sei blockchain, increased by 7% following its transition from Cosmos to Ethereum.
- Market capitalization surpassed $1 billion; daily trading volume rose 32% to $75 million.
- Futures open interest for SEI is up 15.88%, reaching $120 million.
- Token aims to break through the $0.22 resistance level, with analysts targeting a potential rise to $0.33.
- SEI ranks 4th in net flows among blockchains, indicating strong capital inflow and network activity.
Blockchain Transition Proposal
- A proposal was made to eliminate Cosmos support, aiming to simplify user experience.
- If passed, Sei will exclusively support Ethereum-compatible transactions.
- The change intends to enhance integration within the Ethereum ecosystem and improve adoption.
- Current dual architecture adds complexity for users and developers.
On-chain metrics show growing interest in the Sei ecosystem, supported by significant investments such as those from World Liberty Financial.