SEI token surges 35%, reaching new all-time high

Sei (SEI) has been registering notable gains over the past month with the asset’s recent rally over the 24 hours helping it reach a new all-time high (ATH).

SEI surged by 35% in the past 24 hours and is currently trading at $0.295, marking a new ATH. The asset’s market cap stands at $645 million at the time of writing. Data shows that Sei’s daily trading volume has surpassed its market capitalization, hovering around the $656 million mark.

It’s important to note that only 2.175 billion SEI tokens have been added to its circulating supply so far, which has a total supply of 10 billion coins. 

Moreover, Sei registered an 85% and 170% surge over the past week and past 30 days, respectively.

According to data provided by the market intelligence platform Santiment, Sei’s social activity recorded a slight increase over the past two days. Per Santiment, most of the discussions come from X (formerly Twitter) and Telegram.

SEI’s new ATH comes as Bitcoin (BTC) surpassed the $38,000 mark again on Nov. 28.

According to Investors Observer, SEI is still sailing in the bullish zone as it’s above the $0.22 support zone. A price plunge below the $0.20 resistance zone could potentially put the asset in a highly volatile condition. 

Last week, SEI registered a 91% surge in seven days after a strategic investment from Circle, the issuer of the second-largest stablecoin USDC.