From Sui to Sei, signs that Sei attracts investors in October

In addition to the recent attention that the market has given to TON, SOL, Sui, Sei (Sei) – another Layer 1 blockchain that was the 36th project on Binance Launchpool – is showing many signs of attracting cash flow and has the potential to increase in price in the final period of the year.

Here is a summary of the positive signs of Sei as noted by BeInCrypto.

Also Read: Sei price promises 21% increase, but buyers may hesitate

Sei TVL hits new high in late September

In the context of the 2024 market, there are not many blockchains that have a total value locked that increases steadily and sets an ATH like Sei. As the market Capital flow is increasingly tight, investors are more selective when deciding to invest in a certain protocol. The fact that Sei 's TVL recently set a new ATH is a sign that the project has convinced investors and users.

defillama data shows that Sei 's TVL in September exceeded $200 million, and is currently fluctuating around this level in the early days of October. Some protocols on Sei have seen rapid TVL increases in the past month such as Beefy (+641%), SiloStake (+167%), Yei Finance (+157%)...

Sei is still “small” compared to the billion USD TVL like Sui. But Sei will have more room to increase its price when the ecosystem is still young and just starting to get attention.

Daily Active Addresses on Sei Set ATH in October

Artermis data shows that on October 1, the number of daily active addresses (DAA) reached 179,200 addresses, officially setting a new high in the history of Layer 1 development.

If we look at it in general, the Sei network has been showing signs of excitement since August, and for the past two months, the DAA of the Sei network has regularly exceeded 90,000 addresses, higher than the period when the Sei price set a high in March. An increase in DAA in a falling price context is usually a positive sign to predict the possibility of a price increase in the future.

Sei volume hits 6-month high

Not only TVL and DAA set ATH, but Sei 's 24-hour volume on the exchange also set a 6-month high. This data shows that Sei is being strongly supported by buyers while the price has fallen 80% from its high in the first quarter of the year.

• CoinMarketCap data shows that Sei 's 24-hour volume on October 2 reached nearly $550 million, ranking 23rd in the market, and is the highest daily volume since the March price surge.
• Along with this sudden increase in volume, Sei price left a positive technical consequence. It is a positive crossover between EMA34 and EMA89 (Sonic R indicator) on the daily time frame. This is a signal predicting that Sei will continue to increase in price.
• It is not impossible that Sei will have a re-test before continuing to increase. The re-test level can correspond to EMA89 at the 0.36 USD area, and the near target for Sei 's increase in October at the 0.5 fibo equivalent to 0.67 USD (as illustrated above).

Many positive views on the X network go further, expecting Sei to make a comeback and set a new ATH, as Sui recently did .

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