Crypto

SEI Price Surges by 65%: How High Will the SEI Price Go in 2024?

Published

2 years ago

January 1, 2024

SEI Price Surges by 65%: How High Will the SEI Price Go in 2024?

Sei’s SEI coin, operating on layer 1 blockchain technology, attained its highest value in late December 2023. Launched in August of the same year, the cryptocurrency achieved an open interest exceeding $160 million in the derivatives market. This milestone followed the platform’s announcement of its commitment to becoming carbon neutral. This article is all about SEI Price prediction 2024 and how high will SEI price go in 2024? Let’s take a look at this in more detail.

What is SEI?

The Sei project stands out as a sector-specific layer 1 blockchain designed specifically for trading purposes. Setting itself apart, Sei introduces innovative techniques for transaction ordering, block processing, and parallelization tailored for exchanges. Additionally, the Sei project provides a highly optimized order placement and matching engine seamlessly integrated into the blockchain.

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How has the SEI Price moved in recent days?

As of now, the Sei price stands at $ 0.650384, accompanied by a 24-hour trading volume of $ 960.68 million. The market capitalization of Sei is $ 1.50 billion, contributing to a market dominance of 0.09%. Over the past 24 hours, the SEI price has witnessed an 11.56% increase. In the last seven days the SEI price has increased by more than 65%.

On January 1, 2024, Sei achieved its peak price, reaching an all-time high of $ 0.651399. The lowest recorded price for Sei is currently unavailable, marked as n/a, with an all-time low of $ 0.00. Following its all-time high, the lowest price experienced since then was $ 0.634931 (cycle low), while the highest was $ 0.639093 (cycle high). Presently, the sentiment for Sei’s price prediction is bullish, and the Fear & Greed Index indicates a reading of 65 (Greed).

Sei’s circulating supply currently amounts to 2.30 billion SEI out of a maximum supply of 10.00 billion SEI. Within the Proof-of-Stake Coins sector, Sei holds the 12th position, and in the Layer 1 sector, it is ranked 30th.

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Why is SEI Price Up?

The surge in investor interest in SEI can be attributed to several key factors in recent times. The Sei Network reaching a milestone of over 1 billion transactions is a significant indicator of growing real-world adoption. For instance,

Atlantic-2 Testnet: Sei created a testing environment called Atlantic-2 to simulate and evaluate its blockchain network before deploying major updates or changes to ensure they work smoothly.
Strategic Raise: Sei secured additional funds through strategic fundraising, likely from investors or partnerships, to support its development and growth initiatives.
Pacific-1 Mainnet beta: Sei launched the beta version of its Pacific-1 Mainnet, indicating progress toward the full release of its main blockchain network for users and developers.
Fastest Chain at 390ms ttf: Sei achieved a notable technical milestone by reducing its time-to-finality (ttf) to an impressive 390 milliseconds, making it one of the fastest blockchain networks in terms of transaction confirmation.
1.1 Billion Transactions, zero downtime: Sei processed an extraordinary 1.1 billion transactions on its blockchain, showcasing its scalability and reliability with zero instances of system downtime.
Parallelized the EVM internally: Sei implemented internal parallelization of the Ethereum Virtual Machine (EVM), a crucial component for executing smart contracts, which can enhance the efficiency and speed of decentralized applications on the Sei blockchain.

Furthermore, strategic partnerships with entities such as Kryptonite and Gecko Terminal underscore Sei’s expanding ecosystem. Simultaneously, planned upgrades like EVM compatibility enhance Sei’s attractiveness for decentralized app developers.

Comparisons drawn with networks like Solana have heightened expectations of SEI attaining higher valuations as its adoption continues to increase. The endorsement from major venture firms, including Multicoin Capital, adds credibility to Sei’s position as a promising Layer 1 contender.

When coupled with positive technical indicators, these favorable conditions have contributed to the recent upward movement in SEI’s price.

How high will the SEI Price Go in 2024?

Over the past 30 days, SEI has demonstrated remarkable strength in its price performance, recording an impressive 17 green days, accounting for 57% of the observed period. This consistent positive trend suggests a robust and sustained demand for SEI in the market.

Trading in proximity to its all-time high indicates a strong bullish sentiment among investors, with the potential for further upward movements. The fact that SEI maintains such a position near its peak suggests sustained buying interest and confidence in the cryptocurrency.

Moreover, SEI’s high liquidity, as indicated by its substantial market capitalization, positions it as a favorable choice for traders and investors alike.

This combination of positive price action, proximity to the all-time high, and high liquidity levels bodes well for SEI’s future trajectory, potentially paving the way for continued growth and positive market sentiment.

The revelation that less than 23% of the total supply of SEI is currently in circulation adds an intriguing layer to the cryptocurrency’s dynamics. This relatively low percentage in circulation implies a considerable portion of SEI tokens is held, perhaps for long-term investment or strategic purposes.

Such a distribution pattern can have implications for market liquidity and price volatility. With a substantial portion of the total supply held outside active trading, the potential impact of new market developments or increased demand could be amplified.

It also raises questions about the intentions of token holders and their role in shaping the future trajectory of SEI. As investors navigate the crypto landscape, this aspect of supply distribution becomes a crucial factor to monitor, influencing market dynamics and the token’s responsiveness to external factors.

The recent surge in SEI’s price has undoubtedly sparked excitement, yet the sustainability of this upward momentum hinges on the project’s ability to secure long-term adoption and make substantial progress in its development. The successful delivery of planned upgrades, especially those involving EVM compatibility and cross-chain interoperability, holds the potential to broaden the scope of use cases and attract a larger user base.

The validation of SEI’s value proposition would come through the onboarding of new decentralized applications (dApps) and users, while strategic integrations and partnerships would play a pivotal role in establishing network effects for this emerging Layer 1 blockchain. Ultimately, real-world adoption of SEI needs to align with its fundamental utility to justify positive price action over time.

Despite short-term market dynamics influenced by technical indicators, SEI’s enduring success rests on its evolution as a smart contract platform. Achieving milestones in performance, scalability, and overall functionality would solidify SEI’s standing as an attractive blockchain option for developers and users alike.

However, inherent risks accompany the execution of these ambitious plans. The Sei team must navigate challenges to deliver on promises and differentiate itself from competitors in the evolving blockchain landscape.

If successful, the realization of roadmap goals may support a bullish long-term outlook for SEI, emphasizing the importance of both fundamentals and execution in shaping the cryptocurrency’s trajectory. In contrast to other cryptocurrencies that rely heavily on marketing and community sentiment, SEI’s emphasis on practical advancements and real-world application sets it apart in the crypto space.

Considering the factors mentioned earlier, including the recent price surge, the potential for long-term adoption, and the successful execution of planned upgrades, a plausible trading range for SEI could be projected between $ 0.588659 and $ 0.809823. If SEI manages to reach the upper end of this range, it would signify an increase of approximately 23.40%, bringing the price to $ 0.809831.

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Cease and Desist Hits Robinhood, Crypto.com, Kalshi in Connecticut

Published

8 hours ago

December 4, 2025

Press Room

Connecticut moved to block several major platforms after officials said they offered unlicensed sports wagering, signaling escalating scrutiny of online gambling services that allegedly sidestep state rules and expose residents to significant consumer risks.

Crypto

Sask. retiree warns others after losing $3K to crypto fraud using AI video of prime minister | CBC News

Published

20 hours ago

December 4, 2025

Press Room

Sask. retiree warns others after losing K to crypto fraud using AI video of prime minister | CBC News

Retired teacher Lynn Phaneuf says he and his wife generally only use the smart TV in the living room of their Prince Albert home to watch the news.

When Phaneuf, 70, saw what purported to be an interview between CBC host Rosemary Barton and Prime Minister Mark Carney talking about cryptocurrency investment opportunities backed by the federal government, he thought he was watching a legitimate segment on a CBC streaming platform.

“With all the stuff that has been going on with Mark Carney, trying to get housing going and this and that, I thought this could be just one of those initiatives that is good for Canadians,” Phaneuf said.

The segment did not air on CBC’s platform, and it was fake — a fraudulent video made using AI to impersonate Carney, Barton and CBC branding to direct people to an investment company that was flagged by the Manitoba Securities Commission in June 2025.

Phaneuf said he had doubts throughout the weeks-long interaction with scammers that ultimately cost him $2,800. But with around $800 in profits deposited to his Canadian bank account, a legitimate cryptocurrency site tangled up in the scheme, the professional nature of the so-called financial advisers and a confusing phone call from RBC, there was always just enough reassurance to keep going, he said.

“I always use the analogy of being lost in the bush. Once you’re lost, you stop believing the things that you should believe.”

The Financial and Consumer Affairs Authority of Saskatchewan said it began tracking amounts reported lost to cryptocurrency scams in the province in 2024, and as of the beginning of November 2025, the total lost was $1.3 million.

For Canada, the reported amount lost totals more than $388 million between January 2024 and September 2025, according to the Canadian Anti-Fraud Centre. Both agencies say only an estimated five to 10 per cent of victims report the fraud.

Companies ‘very well aware’ of AI-generated ads

Mathieu Lavigne, the analytic lead at the Media Ecosystem Observatory — a Canadian-based research initiative that monitors and analyzes online harms — said deepfake, AI-generated videos like the one Phaneuf encountered are a known problem for social media companies.

But the companies are taking a primarily “reactive” approach, he said.

“They’ve basically just been removing individual pages and ads when they’ve been flagged.”

Regulations for ads on social media are much looser than regulations for traditional broadcasts, he said.

Companies like Meta, which owns Facebook, rely on ad buyers to self-declare deceptive AI use and no identity verification is needed before creating a page, even pages running financial ads, Lavigne said.

The Media Ecosystem Observatory was able to track hundreds of Facebook pages, like this one, that impersonated news organizations including CBC to direct Canadians to investment scams. (Submitted by Media Ecosystem Observatory )

“Right now it is possible for any individual around the world to create a page and start buying ads right away that try to defraud Canadians.”

The problem is extensive, he said. His team identified over 200 pages on Meta platforms running ads like the one Phaneuf encountered. One video had been seen by more than 100,000 Canadians.

He said information from Meta’s ad library shows that more vulnerable Canadians like the elderly are often targeted.

The scam

The fake segment directed Phaneuf to a website called TW Pro, which he said later suddenly became PlusTW. The site displayed stock and trading information for recognizable companies like Apple and cryptocurrencies like Bitcoin and Dash. Phaneuf said he was able to verify that information against the stock exchange in real time.

With time on his hands during retirement, and an apparent endorsement from the prime minister, he thought investing might be interesting and fun.

“I was not trying to make big money out of it. I didn’t need the big money out of it. I just thought, ‘Oh, this is something to try,’” he said.

After he created an account, a series of self-described financial advisers began calling him from Canadian numbers. One gave the name of a real financial adviser based in Toronto, he said.

His first investment was $365, paid by credit card. After 10 minutes on the phone with someone, he’d earned a profit.

“The earnings were not great, but it was an earning every time,” he said.

Once he ensured he could withdraw his money, he decided to invest $3,000, an amount he could afford to lose. That was the limit he gave himself for the investment project.

Unclear call from RBC

The site asked him to send the money through crypto.com — a Singapore-based company registered to operate in Canada through the Canadian Securities Administrators — using an e-transfer. The move concerned his bank.

“RBC phoned me and said, ‘Are you sure you want to do this?’” Phaneuf said.

They told him cryptocurrencies often involve scams, but when he asked if RBC had problems with the specific company, crypto.com, the representative said no, Phaneuf said.

“He couldn’t give me an answer: is this OK or is this not OK?”

The call lasted five minutes.

In a statement to CBC, RBC said it would not comment specifically on Phaneuf’s case due to client privacy, but that the company was in contact with him directly about the situation.

“We recognize that we have an important role to play in helping to protect our clients from fraudsters and educating Canadians about staying vigilant in an ever-evolving threat landscape,” the statement said.

A spokesperson for crypto.com told CBC the company “is not affiliated” with either PlusTW or Pro TW “in any way.”

Pressure to invest

Phaneuf said the pressure to invest increased. When he resisted, the financial advisers became harder to get on the phone. He said he tried to withdraw money and “the phone went dead.” Requests to close his account were similarly ignored.

Normally, he’s able to spot scams and can avoid things like fake emails or phishing scams, he said.

“I was mad because I fell for this one hook, line and sinker.”

Phaneuf said he reported the loss to Prince Albert city police but got a call informing him that they would not pursue it, despite classifying it as theft. He was told there was no need to submit his witness statement, he said.

After CBC contacted Prince Albert police for comment, a spokesperson said they had determined Phaneuf’s case “requires additional attention” and reopened the file.

“After reviewing the file, we recognize that the initial assessment did not meet our expected standard of service,” Chief Patrick Nogier said.

“We need to be upfront,” Nogier said when asked about the police service’s ability to handle cybercrime.

“We do not have the capabilities and the expertise.”

Nogier said cases involving cybercrime are often beyond the capacity of mid-sized police forces like Prince Albert’s.

Prince Albert Police Chief, Patrick Nogier (Aishah Ashraf/CBC)

He called the initial assessment of Phaneuf’s case “concerning” given how often cybercrime goes unreported.

Canadian Anti-Fraud Centre outreach officer Jeff Horncastle said victims of fraud should file reports with both their local police and the anti-fraud centre, as it is a separate reporting process.

He said fraud is “very underreported” for multiple reasons, including victims being confused about where to go and having challenges reporting to police.

Learning about the scam

Phaneuf’s wife asked him to take a cybersecurity course at the University of Saskatchewan through its continued learning program in the fall.

While attending the virtual course, he heard a very familiar tale of fraudsters earning trust through phone calls over time, returning some money to victims in order to get them to invest more, and then disappearing with their money, he said.

“They could have just been pointing at me.”

While Phaneuf didn’t tell his teacher, Canada Research Chair in Security and Privacy Natalia Stakhanova, about his experience, Stakhanova said other seniors in her class have mentioned brushes with AI-powered scams.

A woman stands in the hallway of a building with brick walls under a sign reading department of computer science. — University of Saskatchewan computer science professor Natalia Stakhanova teaches a cybersecurity course for seniors. (Katie Swyers/CBC)

“A lot of people don’t realize the extent of the AI these days and the capabilities are growing daily,” Stakhanova said.

“Criminals are getting, becoming more and more creative.”

Scams are now more sophisticated and more believable than “we are accustomed to seeing,” she said.

Experts say education is key to fighting new forms of fraud.

All individuals and companies dealing with financial securities are required to be registered with the Canadian Securities Administrators and can be looked up there.

Phaneuf’s advice is to keep your bank account information away from anyone asking for money on the internet.

“Don’t let any money out because there’s a good chance you’ll never see it again.”

Crypto

Franklin Breaks Past BTC and ETH Walls With XRP and SOL Driving ETF Expansion

Published

1 day ago

December 3, 2025

Press Room

Franklin Breaks Past BTC and ETH Walls With XRP and SOL Driving ETF Expansion

Franklin Templeton expanded its crypto ETF beyond bitcoin and ether by adding XRP and solana alongside other major tokens, signaling a shift toward broader market exposure and rising demand for assets tied to real-world utility and diversified blockchain use cases.