Coin Edition -
- Coinbase (NASDAQ:COIN) to support SEI futures, boosting investor interest ahead of March 14.
- SEI surges 13%, eyeing $1 mark amid rising network activity and NFT expansion.
- SEI’s MACD is positive, but the flattening histogram hints at a potential momentum shift.
Sei (SEI) has witnessed a 13% increase in its price within the last 24 hours. Despite facing resistance at the intra-day high of $0.9577 at press time, bullish momentum was still in play, with SEI exchanging hands at $0.9156.
This surge, achieved after support at the intra-day low of $0.7828 was established, has propelled the token towards a potential breakthrough, with speculation suggesting it could surpass the $1.50 threshold before this quarter concludes. Burgeoning network activity and the expansion of use cases are poised to act as catalysts for this potential price movement.
SEI/USD 24-hour price chart (source: CoinStats)
During the upsurge, SEI’s market capitalization and 24-hour trading volume increased by 11% and 78.03%, respectively, to $2,332,701,970 and $743,303,043. This increase displays the increased interest and confidence in SEI among investors and traders, showing an optimistic outlook on the token’s potential.
Enhanced Network Activities and Exchange Support
Concurrently, SEI’s foray into the NFT domain is bolstered by its collaboration with the Akita Inu Preservation Society. This alliance has strengthened SEI’s foothold in Japan and has paved the way for its integration into various facets such as the metaverse, art, and culture. As a result, the anticipated rise in token demand is expected to play a crucial role in shaping SEI’s market performance.
Adding to this momentum, Coinbase International Exchange, along with Coinbase Advanced, have announced their plan to support perpetual future contracts for SEI, Blur, and Uniswap, commencing on or after March 14, 2024, at 10 am UTC. These moves have increased investor interest and optimism in SEI’s bullish potential.
@CoinbaseIntExch will add support for Blur, Sei, and Uniswap perpetual future contracts on Coinbase International Exchange and Coinbase Advanced. The opening of our BLUR-PERP, SEI-PERP, and UNI-PERP markets will begin on or after 10am UTC on 14 MAR 2024. pic.twitter.com/R5CkpFw0WE— Coinbase International Exchange