Sei Price Rises 22% on USDC Integration and Breakout
Sei price jumped 22% to a five-month high on July 11 after native USDC integration and a technical breakout above $0.30. The layer-1 blockchain’s V2 launch drove an 800% increase in TVL and a 3600% surge in daily EVM transactions. Native USDC support via Circle’s CCTP V2 enabled seamless transfers with Ethereum, Solana, and Avalanche, boosting stablecoin TVL by 100% and monthly stablecoin transfers to 240 million. Trading volume spiked over 200%, while open interest in futures rose 210%. Momentum indicators and a breach of the $0.30 neckline signal further gains, with a potential target near $0.50. Institutional catalysts include Circle’s 6.25 million SEI holdings and a pending WYST stablecoin review. Traders are watching $0.30 support and profit-taking around $0.35. This surge in Sei price underlines growing DeFi and cross-chain adoption.
Bullish
The news of native USDC integration via Circle’s CCTP V2, combined with strong on-chain metrics—TVL surge, trading volume spike, futures open interest rise—and a decisive technical breakout past $0.30, supports a bullish outlook. In the short term, traders can capitalize on momentum indicators and profit targets near $0.50. Over the long term, enhanced liquidity rails, institutional holdings, and pending stablecoin approvals point to sustained demand and higher valuation for SEI.