SEI surges 33% as DeFi TVL nears all-time high amid market rebound

SEI crypto stood as one of the top-performing crypto assets today amid market-wide recovery, as its DeFi TVL approached new highs. According to data from crypto.news, Sei ( SEI ) token rallied by 33 % to $0.268 on June 24, its highest level since May 12, and is now up more than 90% from its April low. Its market cap stood at $1.49 billion with a daily trading volume of 557 million, 175% higher than the previous day. SEI’s price uptick today coincided with a broader market recovery, which saw the global crypto market cap climb 2.5% to $3.36 trillion. Bitcoin ( BTC ) reclaimed the $105,000 level, while major altcoins including Ethereum ( ETH ), XRP ( XRP ), Solana ( SOL ), and Dogecoin ( DOGE ) also posted notable gains. The positive sentiment followed news of a potential ceasefire agreement between Israel and Iran, announced by U.S. President Donald Trump, signaling an end to a 12-day conflict that had weighed on global risk assets . Beyond the broader macro tailwinds, SEI’s rally was supported by strong on-chain fundamentals. According to DeFiLlama , total value locked on the Sei blockchain has climbed to $1.13 billion, nearly doubling from $526 million at the start of the year and approaching its all-time high of $1.15 billion set in May. You might also like: Israeli man arrested for acting as an Iranian spy in exchange for cryptocurrency This growth has been driven by increasing adoption of decentralized applications built on Sei. Yei Finance, a lending protocol inspired by Aave, now holds approximately $820 million in assets. Takara Lend, another lending dApp, has also attracted $80 million in TVL. Additional data shows the total stablecoin supply on SEI has grown to over $225 million, up from just $1.2 million in March. USDC remains the dominant stablecoin, accounting for 83.3% of the stablecoin market on the network. Revenue generated by Sei-based DeFi protocols has also seen notable improvement. Monthly earnings surged from $116,000 in March to $562,000 in June, indicating a strong uptick in transaction activity and protocol usage. SEI price analysis From a technical perspective, SEI has broken out of multiple bullish patterns. It recently cleared the upper resistance of a multi-week descending channel, signaling a trend reversal. SEI price, 50-day and 200-day SMA chart — June 24 | Source: crypto.news The token has also broken above the symmetrical triangle pattern that had been forming since February, another bullish continuation signal. SEI now trades above both its 50-day and 200-day moving averages, confirming a favorable trend structure. Additionally, the Supertrend indicator has flashed a green signal, and the MACD has registered a bullish crossover, both of which suggest positive momentum is likely to continue. SEI Supertrend and MACD chart — June 24 | Source: crypto.news Hence, the next potential upside target lies at $0.36, which coincides with the 38.2% Fibonacci retracement level from the year-to-date high. If macroeconomic sentiment continues to improve and on-chain strength sustains, SEI could attempt a move toward the $0.50 psychological resistance zone, which aligns with the 61.8% Fibonacci level. Read more: Sonic’s S token jumps 16% as Coinbase announces listing — will S price momentum hold? Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Source: crypto.news