SEI (Sei) rose 15.81% in the last 24 hours.

Gate News Bot news, July 16, according to CoinMarketCap, as of the time of writing, SEI (Sei) is currently priced at $0.39, with a rise of 15.81% in the last 24 hours, reaching a high of $0.39 and a low of $0.26. The current market capitalization is approximately $2.237 billion, an increase of $305 million from yesterday. Currently, SEI ranks 46th in global crypto assets market capitalization.

Sei is a high-performance blockchain platform focused on providing fast and scalable infrastructure. Its features include a 400-millisecond block finalization time, a processing capacity of 100 million gas per second, and over 3 billion in transaction volume. Sei employs a parallel runtime architecture designed to enhance scalability and developer flexibility. The platform is built on proven technologies like Tendermint consensus and WebAssembly to ensure high security. Sei is committed to supporting the development of emerging applications and pledges to achieve carbon neutrality.

Important news about SEI recently:

1️⃣ USDC native support and cross-chain transfer protocol launched 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 frictionless cross-chain transfer capabilities to the high-performance Layer-1 blockchain Sei. The addition of native USDC is expected to enhance liquidity and cross-chain application scenarios within the Sei ecosystem.

2️⃣ Total Locked Value ( TVL ) significantly rises The TVL of Sei Network has soared from a low of approximately 60 million USD in January 2024 to a recent peak of nearly 700 million USD, achieving an almost 10-fold rise within 6 months. This significant growth reflects a substantial influx of new capital and users entering the Sei chain for asset staking and DeFi activities.

3️⃣ Japanese regulators approved Sei Network has obtained approval from the Japanese Financial Services Agency (JFSA), opening a compliant channel for its entry into one of the world's most strictly regulated Crypto Assets markets. This move is expected to attract more institutional investors' attention to Sei's potential in trading and custody.

From a technical perspective, SEI is currently trading at around $0.39, having broken through the key resistance level of $0.29-$0.31. Market sentiment is leaning bullish, but investors should remain vigilant of possible sharp fluctuations in the short term. An important chart support level has formed near $0.25.

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