SEI Network Sees 12.72% Price Surge Amid 42.73% Open Interest Jump

SEI Network has recently experienced a significant surge in activity, with daily transactions exceeding 1.5 million and active addresses climbing to over 616,000. This surge has also been reflected in the price of SEI, which rallied by 12.72% to trade at $0.2097 at the time of reporting. The growth in activity and price has raised questions about whether this adoption is real or artificially inflated.

SEI’s Social Dominance hit 0.26% on 20 June, marking its highest reading in over two months. Weighted Sentiment also rose to 3.66, reflecting elevated community enthusiasm. Interestingly, sentiment followed—not led—the uptick in on-chain data. This sequence often supports a more organic bullish setup, suggesting that excitement is rooted in usage rather than mere hype. However, if sentiment continues to climb without sustained adoption, it could risk signaling a short-term peak. Therefore, sentiment must remain balanced to support further upside.

SEI’s Futures market saw a surge in Open Interest by 42.73% and trading volume jumped by 176.80%, hitting $502 million. These metrics suggested that traders may be building leveraged positions, anticipating sustained bullish momentum. However, leverage cuts both ways. If the price stalls and Open Interest remains high, liquidation risks could rise sharply. For now, the derivatives market is pointing to conviction, but with a cautionary undertone tied to leverage buildup.

SEI recorded $2.19 million in Net Spot Inflows at the time of reporting, marking the strongest daily spike in weeks. This came after a stretch of mixed flows, possibly signaling sidelined capital returning. When combined with the hike in trading activity and social engagement, these inflows could strengthen the case for sustainable upside. However, inflows must persist over time to confirm lasting conviction. Therefore, traders should watch for continued positive flow trends to validate the breakout attempt.

After bouncing from the $0.1659 support zone, SEI was testing the resistance near $0.2135 at the time of reporting. A breakout above $0.2766 would invalidate the broader downtrend and could make room for a move towards $0.35. However, this resistance has proven difficult to breach in previous attempts. Unless accompanied by rising volume and sustained inflows, the price could struggle to maintain momentum.

Ultimately, SEI’s recent performances have highlighted strong alignment between user activity, sentiment, inflows, and leveraged positioning. If the price manages to break above resistance with volume and capital inflows, SEI could extend its rally in the short term. However, failure to overcome $0.2766 could return it to consolidation.