SEI Price Surges to $0.31 After 21Shares ETF Filing
On August 29, the price of SEI rose to $0.31 after 21Shares filed for a spot SEI ETF with the SEC. Market analysts predict potential further gains, targeting $1.
Current Price and Market Performance
- SEI trading near $0.30, up 3.33% today
- Market capitalization approximately $1.82 billion
- 24-hour trading volume over $210 million
Analyst Ali Martinez noted that maintaining support at $0.288 could lead to a rise towards $0.345.
Future Projections
- Potential jump to 2024 high of $0.70 if bullish sentiment continues
- Previous DeFi activity growth of 368% in fee revenue
- Total value locked (TVL) reached $611 million
Spot SEI ETF Details
- Passive fund tracking CF SEI-Dollar Reference Rate
- No leverage or derivatives used
- Custodianship by Coinbase Custody
- Possible staking rewards subject to legal review
The SEC has delayed decisions on staking features, impacting altcoin ETFs offering such rewards.