Sei price jumps 22% to 5-month high, driven by USDC integration
Sei extended its recent gains to its highest level in five months, jumping 22% to touch highs of $0.35, with stablecoin integration a key catalyst.
The Sei ( SEI ) token gained as top cryptocurrencies mirrored Bitcoin ( BTC )’s surge to new record highs.
With Bitcoin rallying to above $118k to see over $1 billion in shorts liquidated , Sei broke out. Prices tapped bullish momentum to break above the key resistance of $0.30, with bulls taking advantage to hit levels last seen on January 31, 2025.
The supply zone around intraday highs of $0.35 represents a previous key support level from November 2024, above which SEI rose to hit $0.73.
Sei price chart. Source: crypto.news
The Sei token reached its all-time high of $1.14 in March 2024.
Sei gains amid stablecoin traction
On July 10, the Sei Development Foundation announced a major milestone for the layer 1 blockchain network, a step it said is more than transformative.
A year after its Sei V2 network launched, the ecosystem has seen a nearly 800% spike in total value locked and over 3,600% surge in daily Ethereum Virtual Machine transactions.The L1 has also attracted a huge number of developers.
Stablecoin integration is what sets Sei ready for the next level of growth – from a high-performance network to the crypto and financial markets’ cross-chain liquidity hub.
Putting Sei on the map is its integration of native USDC ( USDC ), the stablecoin’s native access coming at a time Sei has notched a 100% rise in stablecoin TVL. This aligns with a 300% spike in stablecoin transactions, notably pushing monthly stablecoin transactions to approximately 240 million since January 2024.
Also launching on Sei is Circle’s cross-chain transfer protocol.
CCTP V2 will help unlock the next phase of cross-chain value. Other than a fresh institutional on/off-ramp, native USDC means Sei growth as it becomes a key player in decentralized finance, gaming and payments and more.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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