Value

Dragon

Impact

Daily

<p>SEI/USDT recently revisited a crucial consolidation zone. It closely aligned with the Daily 200 Moving Average and the Fibonacci retracement level at $0.41. This area, previously a hotspot for accumulation, presented a potential pivot point for price action. Following this descent, <a href="https://www.thecoinrepublic.com/2024/10/13/sei-network-price-took-u-turn-does-it-have-potential-to-make-it-big/">SEI</a> crypto found temporary support, suggesting a readiness for a rebound.</p> 
<p>Key to this potential upturn is the high volume node around $0.46. Should SEI crypto manage to reclaim this level, it could trigger a broader recovery, redirecting the recent bearish momentum.</p> 
<p>This move could be underpinned by increased trading activity and buyer interest at this higher liquidity region.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img loading="lazy" decoding="async" width="1024" height="673" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-1024x673.png" alt="" class="wp-image-887955" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-1024x673.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-300x197.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-768x505.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-150x99.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-696x457.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425-1068x702.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-425.png 1167w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SEI/USDT daily chart | Source: Trading View
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 </figure>
</div> 
<p>Furthermore, the interaction between price and the indicators—particularly the Golden Cross and the Fibonacci level—indicated the importance of this zone in establishing future direction.</p> 
<p>A successful defense of this level and a push above $0.46 could indeed catalyze a rally, possibly challenging previous highs.</p> 
<p>This scenario hinges on sustained buying pressure and market sentiment shifting favorably for SEI crypto. It indicates potential for upward movement as forecasted in the analysis.</p> 
<h2 class="wp-block-heading" id="h-analysis-of-sei-crypto-s-on-chain-metrics-and-market-impact"><strong>Analysis of SEI Crypto’s On-Chain Metrics and Market Impact</strong></h2> 
<p>Additionally, SEI demonstrated growth across various on-chain metrics such as daily active addresses and transaction counts which escalated. This points towards an expanding user base and heightened network activity.</p> 
<p>Specifically, a record high of 376,000 daily active addresses was achieved this December. This reflects a tenfold increase in just two months from a baseline of 20,000 to 30,000 addresses.</p> 
<p>Transaction activity paralleled this rise, with daily transactions hitting an average of 600,000, half attributed to gaming.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="909" height="334" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-426.png" alt="" class="wp-image-887960" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-426.png 909w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-426-300x110.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-426-768x282.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-426-150x55.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-426-696x256.png 696w" sizes="auto, (max-width: 909px) 100vw, 909px">
  <figcaption class="wp-element-caption">
   Daily active addresses &amp; transaction count | Source: DefiLlama
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 </figure>
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<p>This synergy between active addresses and transaction volume indicated engagement on SEI crypto’s platform, likely spurred by its strategic emphasis on gaming as a primary user acquisition vector.</p> 
<p>The new wallet creations also mirrored potential uptrend. The consistent rise in new wallets correlated with the growth in SEI’s gaming ecosystem, suggesting effective market penetration strategies were in place.</p> 
<p>SEI’s solid foundation is further bolstered by substantial financial backing, with $100 Million raised from prominent firms, setting a strong stage for future developments and ecosystem expansion.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="189" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-1024x189.png" alt="" class="wp-image-887965" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-1024x189.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-300x55.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-768x141.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-150x28.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-696x128.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427-1068x197.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-427.png 1325w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SEI daily new wallets | Source: DefiLlama
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 </figure>
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<p>Despite a significant market cap and funding, SEI’s mindshare appeared lower than potential, indicating room for growth, especially if fueled by major announcements or continued positive sentiment in its community.</p> 
<p>SEI crypto’s position within the high-performance, low-latency blockchain sector and strategies in gaming ecosystem, supports potential rally in market presence and valuation.</p> 
<h2 class="wp-block-heading" id="h-sei-s-total-value-locked"><strong>SEI’s Total Value Locked</strong></h2> 
<p>SEI’s total value locked (TVL) showed growth throughout the year, peaking above $200 Million.</p> 
<p>It reached $240 million, securing the 33rd position on DeFiLlama. This growth was driven by key protocols like Yei Finance in lending, Silostake in liquid staking, and Dragon Swap, a decentralized exchange.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="574" height="355" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-428.png" alt="" class="wp-image-887970" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-428.png 574w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-428-300x186.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-428-150x93.png 150w" sizes="auto, (max-width: 574px) 100vw, 574px">
  <figcaption class="wp-element-caption">
   SEI Total Value Locked (USD) | Source: DefiLlama
  </figcaption>
 </figure>
</div> 
<p>Each contributed to an increase in SEI’s ecosystem, indicating strong investor confidence and utility.</p> 
<p>DeFiLlama confirmed a steady climb in TVL, with sharp rises particularly from February onwards. This trend indicated SEI crypto’s growing relevance in the DeFi sector, suggesting potential for further expansion.</p> 
<p>The ongoing development and integration of these protocols could propel SEI to higher valuations if the trend continues.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/21/can-sei-crypto-reclaim-0-7-as-price-bounces-from-a-high-volume-node-zone/">Can SEI Crypto Reclaim $0.7 As Price Bounces From A High Volume Node Zone?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Can SEI Crypto Reclaim $0.7 As Price Bounces From A High Volume Node Zone?

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