• Sei sees $160M USDC adoption in two weeks, surpassing many established blockchain networks.
• The TD Sequential indicator signals a potential bullish reversal for the SEI price in the near term.
• Derivatives activity eases slightly, with investors showing neutral leverage sentiment.

Sei (SEI) is progressing smoothly in the cryptocurrency space, boosted by fast-rising stablecoin adoption and a latest technical signal predicting further appreciation.

At the time of writing, Sei is trading at $ 0.3144 with a 24-hour trading volume of $ 333.20 million and a market cap of $ 1.80 billion. SEI price increased 0.83% in the last 24 hours.

USDC Growth on Sei Surpasses Expectations

Sei Network recently revealed that Circle’s early investment in Sei has led to one of the fastest adoption rates of USDC in the blockchain sector. In just two weeks, over $160 million of native USDC has been minted across the network.

This rate of expansion has already positioned Sei ahead of several other established blockchain networks in the issuance of stablecoins. Rapid adoption underscores Sei’s growing significance as a base blockchain used for stablecoins, with strong potential to underpin decentralized finance (DeFi), cross-border payments, and other blockchain-based financial services.

Crypto analysts note that such fast USDC adoption may make Sei more appealing to developers and companies seeking cost-effective, efficient, and scalable payment and settlement infrastructure.

Analyst Sees Bullish Signal for SEI Price

Prominent crypto analyst Ali Martinez has also pointed to Sei’s recent market behavior. According to him, the TD Sequential indicator, a tool used to identify potential price reversals, has proven very reliable at tracking SEI’s movements over the last two weeks.

According to Martinez, the indicator only recently gave a buy signal, and if current market forces continue, a price reversal could be expected in the near term. This aligns with emerging sentiment that Sei’s recent move, specifically the USDC adoption surge, is likely to spark stronger price action in the short to medium term.

Also Read | SEI Surges 25% Weekly, Analysts Predict Possible Rally Toward $1

SEI Derivatives Market Cools Amid Lower Trading Activity

SEI’s derivative market retreated slightly, with volume declining by -1.67% to $455.04 million and open interest falling by -1.60% to $285.32 million. The retreat indicates lower short-term speculation, but positions remain steady.

OI-weighted funding rate was stable at 0.0010%, indicating a neutral leverage sentiment throughout the market. This neutrality indicates market participants are awaiting clearer guidance on costs before entering aggressive positions.

Also Read | SEI Crypto Gains Momentum With Breakout Potential Toward $1.14