SEI crypto stood as one of the top-performing crypto assets today amid market-wide recovery, as its DeFi TVL approached new highs.
According to data from crypto.news, Sei (SEI) token rallied by 33 % to $0.268 on June 24, its highest level since May 12, and is now up more than 90% from its April low. Its market cap stood at $1.49 billion with a daily trading volume of 557 million, 175% higher than the previous day.
SEI’s price uptick today coincided with a broader market recovery, which saw the global crypto market cap climb 2.5% to $3.36 trillion. Bitcoin (BTC) reclaimed the $105,000 level, while major altcoins including Ethereum (ETH), XRP (XRP), Solana (SOL), and Dogecoin (DOGE) also posted notable gains.
The positive sentiment followed news of a potential ceasefire agreement between Israel and Iran, announced by U.S. President Donald Trump, signaling an end to a 12-day conflict that had weighed on global risk assets.
Beyond the broader macro tailwinds, SEI’s rally was supported by strong on-chain fundamentals. According to DeFiLlama, total value locked on the Sei blockchain has climbed to $1.13 billion, nearly doubling from $526 million at the start of the year and approaching its all-time high of $1.15 billion set in May.
This growth has been driven by increasing adoption of decentralized applications built on Sei. Yei Finance, a lending protocol inspired by Aave, now holds approximately $820 million in assets. Takara Lend, another lending dApp, has also attracted $80 million in TVL.
Additional data shows the total stablecoin supply on SEI has grown to over $225 million, up from just $1.2 million in March. USDC remains the dominant stablecoin, accounting for 83.3% of the stablecoin market on the network.
Revenue generated by Sei-based DeFi protocols has also seen notable improvement. Monthly earnings surged from $116,000 in March to $562,000 in June, indicating a strong uptick in transaction activity and protocol usage.
SEI price analysis
From a technical perspective, SEI has broken out of multiple bullish patterns. It recently cleared the upper resistance of a multi-week descending channel, signaling a trend reversal.
The token has also broken above the symmetrical triangle pattern that had been forming since February, another bullish continuation signal.
SEI now trades above both its 50-day and 200-day moving averages, confirming a favorable trend structure. Additionally, the Supertrend indicator has flashed a green signal, and the MACD has registered a bullish crossover, both of which suggest positive momentum is likely to continue.
Hence, the next potential upside target lies at $0.36, which coincides with the 38.2% Fibonacci retracement level from the year-to-date high.
If macroeconomic sentiment continues to improve and on-chain strength sustains, SEI could attempt a move toward the $0.50 psychological resistance zone, which aligns with the 61.8% Fibonacci level.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
