SEI Token Surges by 174% in a Month, Here's Why!

Image : Sei Webiste Source : https://www.sei.io/

SEI Network, which debuted in August 2023, has distinguished itself in the cryptocurrency industry. SEI Network, which is backed by renowned investors such as Jump Crypto and Multicoin Capital, is built for speed, cheap costs, and other qualities that support trade apps.

This network's SEI token has risen by more than 174% in the last month, reaching an all-time high of US$0.7947 on January 2, 2024. This asset was also named the best-performing crypto asset in the first half of the year.

Factors Contributing to the SEI Price Increase

Several reasons have contributed to SEI's growth, including the network's ability to execute over 1.1 billion transactions while effectively cutting settlement time to 390 milliseconds, making it one of the fastest on the market.

Sei recently completed internal parallelization of the Ethereum Virtual Machine (EVM), increasing the efficiency of the blockchain's decentralized apps. Furthermore, key alliances and advancements, such as the beta launch of the Atlantic-2 Testnet and Pacific-1 Mainnet, have bolstered the network's legitimacy.

Partnerships and strategic support were also critical in achieving the price increase. To broaden its ecosystem, Sei Network recently partnered with businesses such as Kryptonite and Gecko Terminal. Furthermore, the SEI token profited from the recent meme currency fever, with SEIYAN catching SEI users' attention.

*Disclaimer:

This content aims to enrich reader information. Always conduct independent research and use disposable income before investing. All buying, selling, and crypto asset investment activities are the reader's responsibility.