SEI Crypto Price Prediction: What Drives Its 130% Growth?

1 December 2023

Decentralised finance keeps impressing us with new introductions and innovations, adding more tokens, technologies, and assets. With the plethora of crypto projects we have today, it is challenging to find a distinguished one with real use cases.

Today, we will talk about a new entrant that found its way quickly into the market thanks to its unprecedented use cases, which benefits one of the busiest and wealthiest industries, trading.

SEI is a unique project that serves different purposes, focusing on trading and exchanging assets. The recent SEI price action grabbed investors’ attention, and many started speculating on the SEI crypto price prediction. Let’s review this token and what the future looks like.

Introducing SEI Token

Sei is an advanced layer-1 blockchain network that debuted on 15 August 2023 as the industry’s first sector-specific blockchain. The Sei serves trading platforms and exchanges, giving them a competitive advantage to transact in a full Web 3.0 ecosystem.

Shortly after its introduction, the company announced an investment with corporation Circle, the founder lab of USD Coin, the second stablecoin in the market. This news spurred investors’ trust and the likelihood of having a promising crypto project.

SEI is the native crypto token for this network, which strives to solve the blockchain trilemma. The SEI token is used for multiple Web 3.0 utilities, including DAO governance and transaction fee payment, and as a unified payment system to reward validating nodes.

The problem that most DeFi exchanges face today is the tightened control and regulations, especially on centralised exchanges, pushing them to operate on decentralised platforms.

However, most decentralised platforms face scalability issues with unstable processing times and extended loading times, leading to inefficient dynamics.

What Makes SEI Unique?

The Sei blockchain tries to solve the blockchain trilemma by optimising decentralisation, security, and scalability. Therefore, it aims to benefit exchange by offering the following benefits:

The fastest transaction processing time: minimising the validation and consensus time to 300 milliseconds.
Customisable matching engine: a native order book consolidation algorithm that can be adjusted to users’ needs, especially exchanges.
Parallelisation of subnets: the ability to build and operate on multiple subnets, expanding use cases and scalability.
Prevents frontrunning: Sei blockchain validates transactions in batches, with maximum speed to avoid frontrunning.

SEI Price Performance

Speculators and crypto investors could not miss out on the recent SEI crypto news, as the token rallied a strong bullish run. The reason for this tremendous breakthrough can be attributed to its cooperation with Circle, founder of USDC and the innovative solutions this blockchain provides.

We analyse the latest SEI coin price activity using the exponential moving average indicator and implement and compare three time periods to track current movement and predict possible future trends.

We start by comparing the most recent timeline of 10 days to the 50-day period to look at short-term trends. We see that both lines were moving alongside each other almost the whole time until the last week of November.

The 10-day EMA line started moving upwards and away from the 50-day line, indicating a bearish movement in the short term. During the last week of November, ISE was traded at $0.275 compared to $0.12 one month ago, which means over 130% growth in 30 days.

Moreover, in a one-week period between 21 and 29 November, the price grew by more than 75%, embarking on an increasing trend.

Then, we compare the 10-day to the 200-day EMA line to find out longer-term trends and what the SEI crypto token’s future is.

We find that the 10-day line started moving far from the 200-day line starting in November while achieving a remarkable jump starting from the 22nd, which suggests a possible bullish market that would last for weeks.

SEI Crypto Price Prediction

It is not uncommon for new crypto projects to achieve distinguished growth during the first month of its introduction. However, most of them go bust because they do not provide a real use case that is attainable for the long term.

This is not the case for Sei, which was created to serve trading and exchange platforms, the most important growth catalysts in this space. Therefore, the eyes are now on the SEI price chart as investors look at the $0.30 threshold.

Specifically, speculators are betting on “when” the price will cross the threshold. Will it be this month? Next week? Or maybe in the next few days. We will have to wait for the answer.