SEI (Sei) rose 1.12% in the last 24 hours.

Gate News Bot news, July 15, according to CoinMarketCap, as of the time of writing, SEI (Sei) is currently priced at $0.35, with a rise of 1.12% in the last 24 hours, reaching a high of $0.36 and a low of $0.25. The current market capitalization is approximately $2.046 billion, an increase of $22.7 million compared to yesterday.

Sei is a high-speed parallel blockchain platform that pushes the boundaries of blockchain technology through open-source development, aiming to create new design spaces for consumer-facing applications. Sei achieves a block finality time of 400 milliseconds and can process 100 million Gas per second, having completed over 3 billion transactions. Sei's unique architectural design aims to enhance scalability and developer flexibility while relying on proven technologies for security such as Tendermint consensus and Wasm.

Important news about SEI recently:

1️⃣ USDC native support enhances liquidity Circle announced that the native USDC token and CCTP V2 will soon be launched on the Sei Network, bringing the world's largest compliant stablecoin and frictionless cross-chain transfer functionality to its high-performance Layer-1 blockchain. The addition of native USDC is expected to significantly enhance the liquidity and cross-chain application scenarios of the Sei ecosystem.

2️⃣ Total Locked Value ( TVL ) significantly rise The TVL of Sei Network has surged from a low of approximately 60 million USD in January 2024 to a recent peak of nearly 700 million USD, achieving a rise of almost 10 times within 6 months. This significant growth reflects a large influx of new funds and users pouring into the Sei chain for asset staking and DeFi activities.

3️⃣ Japan's regulatory agency approves market expansion Sei Network has received approval from the Japanese Financial Services Agency (JFSA), opening a compliant pathway for its entry into Japan, one of the most strictly regulated cryptocurrency markets in the world. This move is expected to attract more institutional investors to pay attention to Sei's potential in trading and custody.

From a technical perspective, the current trading price of SEI is about $0.35, which is still some distance from the historical high point in March. A key chart support level has formed around $0.25. Market sentiment leans bullish, but investors should remain vigilant about potential sharp fluctuations in the short term.

This message is not an investment advice; investors should be aware of market volatility risks.