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<p>SEI, the native token of the Sei Network blockchain, has seen immense volatility this week, with prices rising 23.13% in the past 24 hours. Key highlights include:</p>
<ul>
 <li>24H Low: $0.6077</li>
 <li>24H High: $0.7947</li>
 <li>24H Volume: $1.23 billion, up 119%</li>
</ul>
<p>Launched in August, Sei Network quickly reached a $400 million market cap on the back of support from major crypto venture funds like Jump Crypto and Multicoin Capital.</p>
<p>However, on-chain activity remained muted in subsequent months as SEI traded sideways—until this recent outbreak of speculative frenzy.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="692" src="https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-1024x692.png" alt="" class="wp-image-411758" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-1024x692.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-300x203.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-767x518.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-1536x1038.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-2048x1384.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-222x150.png 222w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-518x350.png 518w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61-788x532.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-61.png 1048w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats – Start using it today</a></strong></em></p>
<p>The increase aligns with the team providing details on a noteworthy network upgrade called Sei Zero. Planned features include:</p>
<ul>
 <li>Making Sei the fastest blockchain in terms of TPS</li>
 <li>Letting developers deploy audited smart contracts from EVM chains</li>
 <li>Introducing parallelized transaction processing</li>
</ul>
<p>Per the <a href="https://medium.com/@nick_rotenberg/update-sei-v2-the-first-parallelized-evm-blockchain-321df0104e1e" target="_blank" rel="noopener noreferrer nofollow">developers</a>, these changes could make Sei far more appealing for traders and decentralized applications.</p>
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<p>In the wider context, there is a growing interest among speculators in “ETH killer” blockchains such as Solana and Avalanche. As capital shifts away from recent outperformers and moves into the next promising blockchain, networks like Sei are poised to gain advantages.</p>
<p>In summary, a major network upgrade appears to be catalyzing a renewed hype cycle for Sei and its native SEI token among crypto traders hungry for the next big thing. The sustainability of this explosive price action remains an open question.</p>
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 <li><a href="https://captainaltcoin.com/heres-the-recap-of-2023-in-the-crypto-and-bitcoin-industry/" target="_blank" rel="noopener noreferrer nofollow">Here’s the Recap of 2023 in the Crypto and Bitcoin Industry</a></li>
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<p>The post <a href="https://captainaltcoin.com/why-is-sei-price-up-by-23/" rel="noopener noreferrer nofollow">Why is SEI Price Up By 23%?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is SEI Price Up By 23%?

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