Sei Network (SEI) TVL surged to 700 million USD! Compliance progress in the Japanese market draws follow.
The blockchain analysis platform DeFiLlama data shows that the TVL (Total Value Locked) of Sei Network has soared from a low of about $60 million in January 2024 to nearly $700 million recently (currently around $650 million). This signifies an astonishing nearly 10-fold rise in just six months. However, despite the recent pump, the current trading price of SEI is about $0.26, which is still approximately 78% lower than its all-time high in March 2024. Technical analysts point out that a key chart support level has formed around $0.25. If this support level is breached, the SEI price could further dip to the $0.20 region, which would put pressure on holders who bought at high levels.