SEI ETF Filing Sparks 40% Rally as it Becomes #2 EVM Chain—$0.30 Next?

Sei ($SEI) has delivered an explosive 40% surge after decisively shattering the $0.20 psychological resistance level.

In the aftermath of the Iran-Israel ceasefire developments, cryptocurrency markets experienced a swift rebound, with nearly every top-100 token staging remarkable recoveries.

However, SEI has unexpectedly spearheaded this market-wide rally, surging from a session low of $0.194 to peak at $0.2872, before consolidating at $0.2799 during current trading.

This dramatic price movement was accompanied by exceptional trading volume exceeding $784 million, a staggering 254% increase from the prior session, representing nearly 50% of SEI’s $1.55 billion market capitalization.

SEI Conquers No. 2 EVM Spot With 8.1 Million Users AS TVL Rockets 24% to $535M

Market participants have largely credited SEI’s outstanding performance to renewed attention surrounding the May SEI ETF application submitted by Canary Capital.

The Sei Network emphasized that securing ETF approval would serve as a catalyst for widespread blockchain adoption and increased demand for the underlying SEI token, drawing comparisons to Bitcoin’s remarkable growth trajectory following its January 2024 ETF authorization.

Simultaneously, the Sei blockchain ecosystem continues experiencing substantial user growth momentum.

Recent analytics from DappRadar indicate that the Sei Network has ascended to second place among leading EVM-compatible blockchains, boasting over 8.1 million active wallet addresses.

Within the past 24 hours alone, the total value locked (TVL) across the Sei network has expanded by 28%, now exceeding $542 million in assets.

Nansen intelligence reveals that Sei ranks as the second-fastest growing blockchain by fee generation over the past week, recording a 60% increase and trailing only Aptos at 78% growth.

Furthermore, active wallet addresses on SEI have tripled while daily transaction volumes have doubled, now averaging 1.4 million transactions per day.

Wyoming Chooses SEI over Ethereum, Base, and Avalanche for Stablecoin launch.

On June 19, the Sei Network received recognition from the Wyoming Stable Token Commission as a qualifying blockchain candidate for WYST deployment.

WYST represents the inaugural fiat-backed stablecoin to be issued by a United States governmental entity.

Sei achieved a competitive score of 30, outperforming established competitors including Base (25), Sui (26), Avalanche (27), Ethereum (26), Algorand (21), and Ripple.

These developments collectively show growing layer-1 blockchain adoption, which analysts expect will positively influence SEI token valuation.

Cryptocurrency traders have confirmed that SEI has successfully breached critical trendline resistance above the $0.25 threshold.

The token is currently challenging a significant sell wall at higher price levels.

Crypto analyst CW8900 projects that if SEI penetrates this resistance cluster, the token could advance smoothly toward $0.44, where the next major selling pressure zone exists.

This scenario suggests SEI maintains approximately 2X upside potential to reclaim December peak levels.

Optimistic traders and risk-seeking investors are projecting even more ambitious long-term targets, speculating on 25X appreciation with individual SEI tokens reaching $7.

Five-Month Breakout: SEI Smashes $0.26 Resistance Wall

The SEI/USDT daily technical analysis displays a bullish breakout above five-month resistance at $0.26, driving price action to approximately $0.280 with a robust 41.9% single-day advance.

This breakout demonstrates powerful bullish momentum, reinforced by substantial volume expansion and an RSI measurement of 72.48, which has entered overbought territory, typically indicating persistent buying pressure while potentially signaling near-term consolidation risk.

Should bullish momentum persist, the immediate target rests at $0.35, representing a crucial resistance zone that previously functioned as a major distribution area.

A decisive break above this level could unlock a medium-term advance toward $0.50, potentially delivering a 70% gain from current valuations.

Conversely, failure to maintain support above $0.26 might trigger a retest of the breakout zone before resuming the next upward phase. Currently, the breakout validates a trend reversal, with bullish sentiment maintaining clear market control.

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