Sei Altcoin Surges 70% in Week as Whales Drive Bullish Trend

An altcoin listed on Binance, Sei (SEI), a layer-1 blockchain, has been quietly rising, with a 28% increase in the last month and a 70% increase in the last week. This rise comes as Bitcoin (BTC) has been the main focus of the market, surging from $100,000 to $107,000 in the last two days.

Alphractral, an analysis platform, evaluated the rise in SEI and stated that the altcoin has recently broken out of the accumulation zone and started to rise. SEI broke through a months-long consolidation process and made a sharp rise in the last week. The analytics firm attributed this rally to increased buying pressure from whales, an increase in open interest and volume, and predicted that the rise in the SEI could continue.

Total open interest increased by 48.3%, and exchange volume increased by 155%, indicating that large investors are aggressively taking long positions. Alphractal also noted that the Buy/Sell Pressure Delta data confirms a bullish reversal. According to Alphractal, the SEI charts reveal a clear reversal bullish pattern with multiple buy signals flashing green.

Alphractal argued that such movements seen in the SEI are not exclusive to the SEI, and that large investors are positioning themselves in altcoins. This indicates bullishness not only for the SEI but for all altcoins. Alphractal stated, “SEI is moving out of the accumulation zone as whales buy aggressively! SEI is up, leaving the consolidation phase behind. Over the last 24 hours: Open Interest increased by 48.3%, Exchange volume increased by 155%, Bid/Sell Pressure Delta shows clear reversal signals, Multiple Alpha signals accurately highlight buy and sell opportunities. And it presented an excellent accumulation window for SEI.”

Alphractal further added, “Such moves in SEI are clear signs that Market Makers are positioning themselves in Altcoins. When smart money gets involved, it usually signals the beginning of strong trends.”