SEI Achieves New All-Time High: Is 280K Daily Users Just the Beginning?
SEI reaches a record 280,000 daily active users, signaling strong blockchain adoption and momentum. A price breakout above $0.635 and technical strength position SEI for a potential 90% upside to $1.20. Following a recent CNF post highlighting a major integration at the start of 2024, Sei (SEI) has achieved an all-time high of over 280,000 [...]
- SEI reaches a record 280,000 daily active users, signaling strong blockchain adoption and momentum.
- A price breakout above $0.635 and technical strength position SEI for a potential 90% upside to $1.20.
Following a recent CNF post highlighting a major integration at the start of 2024, Sei (SEI) has achieved an all-time high of over 280,000 daily active addresses, signaling remarkable growth in user activity.
The addition of three million unique users in the last three months underscores the platform’s increasing momentum and adoption within the blockchain space. As shared in a recent tweet: SEI hits new ATH with 280k daily users, what’s nextfor its growth?, the question remains: is 280K daily users just the beginning?
SEI hits new ATH with 280k daily users – What’s next for its growth?https://t.co/kmaWSVWr2J
— John Morgan (@johnmorganFL) December 5, 2024
Despite a recent 1.91% dip in SEI’s price to $0.6727, the network’s activity reflects a positive trajectory for the ecosystem’s development.
SEI’s price recently broke out of a descending channel, clearing a key resistance level at $0.635. This move, now acting as support, suggests a potential price target of $1.20, representing a possible 90% upside.
Technical indicators such as an RSI of 64.71 and a positive MACD reinforce the bullish sentiment, though traders are advised to watch for potential reversals as the asset approaches overbought territory.
Growing Interest Fuels Market Confidence
Social engagement around SEI has seen a modest increase, with social volume rising from 28 to 37 in just one day, reflecting heightened investor interest. This surge often precedes further market activity. Additionally, a funding rate of 0.0410% and the dominance of long positions highlight bullish sentiment in the market.
While imbalances in liquidation data suggest caution, Sei’s breakout and rising adoption position it for sustained growth in the blockchain landscape. Furthermore, Sei (SEI) announced that DEX Screener is now integrated with the network to track all charts, offering greater convenience for traders and Sei enthusiasts.
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