SEI has shown significant strength in the past 24 hours, with trading volume increasing accordingly. Market attention is focused on two developments in the Sei ecosystem: Binance will support the SEIEVM migration starting June 1st, and the network is also advancing an upgrade plan called Giga. These developments, coupled with the overall recovery in the crypto market, have driven funds back into some highly volatile altcoins.
According to Coinpedia, SEI is currently trading at $0.0737, up approximately 11% on the day, with trading volume increasing by 192% during the same period. The article suggests that increased buying pressure recently has caused the token to rebound rapidly from its previous lows and return to the market's attention.
SEIEVM migration started on June 1st.
Binance has confirmed its support for the SEIEVM migration to Sei. This step is widely seen as a key development for Sei's improved compatibility with Ethereum. If the migration proceeds smoothly, the network is expected to attract more developers and liquidity to its ecosystem.
For public blockchain projects, improved compatibility typically means a lower barrier to entry for application migration and easier integration with existing EVM development tools and user bases. This migration has therefore become one of the key catalysts driving the recovery in SEI sentiment.
Giga upgrades become another focus
In addition to the migration arrangements, Sei's upcoming Giga upgrade is also driving market expectations. According to reports, this upgrade aims to boost network performance to over 200,000 TPS and reduce final confirmation time to less than 400 milliseconds.
The market is paying close attention to this upgrade primarily because it directly addresses two core metrics in public blockchain competition: throughput and confirmation speed. If its implementation proceeds smoothly, Sei's appeal in high-frequency trading and high-performance application scenarios may further increase.
Price rebound accompanied by increased trading volume
From a technical perspective, SEI has rebounded significantly from its low of nearly $0.049 in April. Coinpedia believes the token is currently trading within an upward channel, indicating that buying pressure at lower levels is still ongoing.
- Short-term resistance around $0.080
- Stronger resistance around $0.093
- The lower support zone is around $0.052.
At a broader market level, the recent overall recovery in crypto assets has provided external support for SEI's rebound. With improved risk appetite, some funds have begun to reallocate to tokens with higher volatility and more concentrated themes, and SEI is one of them.
However, the current surge is primarily driven by rising expectations for ecosystem progress and increased trading activity. If subsequent migrations and upgrades continue to yield new developments, SEI's market attention is likely to remain at a high level.
