SEI (Sei) rose 21.86% in the last 24 hours.

Gate News Bot news, July 11, according to CoinMarketCap data, as of the time of writing, SEI (Sei) is currently priced at $0.32, with a rise of 21.86% in the last 24 hours, reaching a high of $0.33 and a low of $0.25. The current market capitalization is approximately $1.794 billion, an increase of $322 million compared to yesterday. Currently, SEI ranks 53rd in global Crypto Assets market capitalization.

Sei is a blockchain platform focused on speed and scalability, designed to provide new design space for consumer applications. Sei's blockchain achieves 400 milliseconds of transaction finality and can handle 100 million Gas per second, having processed over 3 billion transactions in total. Sei adopts a parallel runtime architecture, enhancing scalability while increasing developer flexibility. The platform is built on proven architectures like Tendermint consensus and WASM to ensure security. Sei is committed to becoming a carbon-neutral blockchain solution, providing support for environmentally conscious developers.

Important recent news about SEI:

1️⃣ Native support for USDC stablecoin Circle announced that the native USDC token and CCTP V2 will soon be launched on the Sei Network, bringing the world's largest compliant stablecoin and seamless cross-chain transfer capabilities to the high-performance Layer-1 blockchain of Sei. The addition of native USDC is expected to enhance the liquidity and cross-chain application scenarios of the Sei ecosystem.

2️⃣ Total Locked Value ( TVL ) significantly rise The TVL of Sei Network soared from a low of about $60 million in January 2024 to a recent peak of nearly $700 million, achieving a rise of nearly 10 times in just 6 months. This significant rise reflects a large influx of new funds and users entering the Sei chain for asset staking and DeFi activities.

3️⃣ Japan's regulatory authorities approve Sei Network has obtained approval from the Japan Financial Services Agency (JFSA), opening a compliance pathway for its entry into Japan, one of the world's most strictly regulated Crypto Assets markets. This move is expected to attract more institutional investors to focus on Sei's potential in trading and custody.

From a technical perspective, the current trading price of SEI is around $0.32, which is still some distance from the historical high of March. A key chart support level has formed around $0.25. Market sentiment is leaning bullish, but investors still need to be cautious of potential sharp fluctuations in the short term.

This message is not intended as investment advice; investors should be aware of market volatility risks.