SEI (Sei) is ripping greater. The token soared over 42% in the previous 24 hours, catapulting its market cap from $1.08 billion to $1.54 billion, with intraday highs stretching even extra to $1.57 billion sooner than retracing into a tight consolidation band between $0.277 and $0.285.
It appears the fundamental driver unhurried the explosive race appears to be renewed market enthusiasm surrounding an ETF filing submitted by Canary Capital. The asset manager’s proposal for a SEI ETF quietly lodged in Can also merely has begun circulating extra broadly among traders this week.
If licensed, the fund would disclose a landmark step toward institutional access, potentially positioning SEI as one of the most first smaller-cap Layer 1 tokens to develop the jump into mainstream finance infrastructure.
Sei Community acknowledges ETF seemingly
The Sei Community itself has acknowledged the ETF’s transformative seemingly, noting that approval could presumably well perchance lend a hand as a quiz catalyst and greatly trot actual-world adoption of the SEI token.
On a seven-day foundation, SEI is now up 68.92%, placing it among the many pinnacle-performing resources in the Layer 1 category. While the broader altcoin market remains vary-certain, SEI’s relative strength index (RSI) suggests bullish momentum remains intact, with quantity metrics confirming the rally is supported by heightened participation comparatively than skinny liquidity spikes.
On-chain enhance provides extra credibility. In defending with DappRadar, the Sei blockchain has now climbed to #2 among EVM-adore minded networks by full of life addresses, crossing 8.1 million strange wallets, a staggering figure that aspects to speedily expanding retail and developer pastime.
Sei is now the #2 EVM chain by customers https://t.co/rxvjAnos6e
— Sei 🔴 (@SeiNetwork) June 24, 2025
As SEI prints a spruce bullish flag advance its on daily foundation highs, all eyes turn to regulatory channels. A inexperienced gentle on the ETF would not most productive validate the accomplishing’s institutional ambitions nevertheless could presumably well perchance reprice the token’s threat top payment substantially greater.
