SEI Price Soars on Circle Sparks Investor FOMO; Traders Now Ask Is $1 Next?
- The price of Sei (SEI) has surged over 17%, driven by speculation linking it to Circle.
- Rumors suggest Circle’s IPO filing disclosed a large holding of SEI tokens.
- Technical indicators show strong momentum, but the RSI is in overbought territory.
Sei Network (SEI) surged over 17% in the last 24 hours, climbing to a daily high of $0.3341 before settling near $0.30 at the time of writing.
The rally has been strong enough to push the altcoin into the top 50 cryptocurrencies by market capitalization, leaving investors wondering if the powerful momentum could eventually carry SEI back toward the $1 mark.
What’s Fueling the SEI Frenzy?
The rally was triggered by a blockbuster revelation: Circle, the issuer of USDC and freshly IPO’d with a staggering $59 billion valuation, is now confirmed to be one of the largest holders of SEI.
Congratulations on the incredibly successful IPO of one of the biggest investors in $SEI, Circle, which hit a market high of $59B today on the heels of Senate approval of the GENIUS act for stablecoins.
— Sei
Stablecoin issuers like Circle are starting to recognize Sei technology as a… pic.twitter.com/qb73IwOuH0(@SeiNetwork)…
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SEI Price Soars on Circle Sparks Investor FOMO; Traders Now Ask Is $1 Next?
- The price of Sei (SEI) has surged over 17%, driven by speculation linking it to Circle.
- Rumors suggest Circle’s IPO filing disclosed a large holding of SEI tokens.
- Technical indicators show strong momentum, but the RSI is in overbought territory.
Sei Network (SEI) surged over 17% in the last 24 hours, climbing to a daily high of $0.3341 before settling near $0.30 at the time of writing.
The rally has been strong enough to push the altcoin into the top 50 cryptocurrencies by market capitalization, leaving investors wondering if the powerful momentum could eventually carry SEI back toward the $1 mark.
What’s Fueling the SEI Frenzy?
The rally was triggered by a blockbuster revelation: Circle, the issuer of USDC and freshly IPO’d with a staggering $59 billion valuation, is now confirmed to be one of the largest holders of SEI.
Congratulations on the incredibly successful IPO of one of the biggest investors in $SEI, Circle, which hit a market high of $59B today on the heels of Senate approval of the GENIUS act for stablecoins.
— Sei
Stablecoin issuers like Circle are starting to recognize Sei technology as a… pic.twitter.com/qb73IwOuH0
The post SEI Price Soars on Circle Sparks Investor FOMO; Traders Now Ask Is $1 Next? appeared first on Coin Edition.
Read More