- SEI reached $0.29 after spot trading on the Upbit exchange increased
- If rising volume continues to follow the price uptrend, SEI may breach $0.30
- Open Interest around SEI increased, suggesting bullish sentiment behind the price action
The native token of Layer-1 (L1) blockchain Sei (SEI) increased by 30.93% in the last 24 hours, CoinMarketCap data showed. As a result, SEI’s price hit a new all-time high (ATH) of $0.29. The recent rise in the value brought the 30-day performance of the cryptocurrency to a 156.44% hike.
One reason the price of SEI increased was because of its trading volume on the South Korean exchange Upbit. Previously, specifically on August 14, Upbit announced that it had listed the token. At that time, trading of the token against the South Korean Won (KRW) increased.
Upbit’s Funds Flow Into SEI
After some time, the hype fizzled out. However, according to CoinMarketCap data, SEI’s 280% increase in trading volume was mainly because of the rising spot volume around the cryptocurrency on Upbit. To be clear, SEI’s trading volume on Upbit was almost $400 million, representing more than 50% of the entire $789.39 million volume.
At pres…
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