Sei Treads Water Near $0.06 as Giga Upgrade Looms
Sei (SEI) is trading near $0.06 as traders weigh the potential impact of the upcoming Giga upgrade on its price. The Layer 1 token's market capitalization sits at around $451 million, with daily volume of approximately $45 million.
The Giga upgrade aims to increase transactions per second (TPS) by over 200,000 and achieve sub-400 millisecond finality through the introduction of Autobahn consensus and asynchronous execution. Coinbase has already begun routing all SEI transactions through the new EVM standard during a migration window in April.
Analysts at Coinpedia argue that the token's price is likely to gravitate towards $0.020, where selling could finally exhaust itself. However, they also note that monthly token unlocks remain a headwind, adding fresh sell pressure even as institutional integrations expand.