Sei Price Prediction as it Surges 60% in 7 Days – What’s Fueling This Momentum?

cryptonews.com:

Sei (SEI), the token that powers the recently launched and much-hyped Sei Network blockchain, has continued to pump in recent days, despite the broader cryptocurrency market succumbing to profit-taking and deleveraging.

SEI/USD was last changing hands just above $0.81 per token, up another 3% on Thursday and just below the all-time highs it printed close to $0.90 on Wednesday.

That takes the cryptocurrency’s run of gains in the past seven days to more than 70%.

Indeed, SEI is now more than 750% higher versus the record lows it printed in mid-October under $0.10, making it the fourth best-performing cryptocurrency over the past 90 days in the top 100 by market capitalization, behind only Bonk (BONK), ORDI (ORDI) and Celestia (TIA).

As risk appetite in the cryptocurrency market has picked up in recent months, investors have been hunting higher potential returns by looking towards Bitcoin (BTC) and Ethereum (ETH) alternative layer-1 blockchains with a strong value proposition and use case, like Solana (SOL), Avalanche (AVAX) and also Sei (SEI).

Sei’s unique selling point is that it is a trading-focused blockchain designed fast transactions, low fees and other features designed to support trading activity.

Sei Network’s blockchain is also Ethereum Virtual Machine (EVM) compliant, meaning that protocols originally built for the Ethereum network can easily run on Sei.

And much like we have seen with the Solana and Avalanche blockchains in recent weeks, on-chain activity on the Sei Network has been rapidly heating up.

As per a tweet by Sei Daily last week, Sei Network just hit one billion in transactions.