 In the last 24 hours, bullish momentum has had the upper hand in the SEI market, which has seen a 6% increase in value. Consequently, the digital currency skyrocketed to 37 cents, marking a notable all-time high, ATH. At press time, SEI was exchanging hands at 37 cents, a 6% surge from the intraday low. This surge has propelled SEI's market capitalization to $870 million, positioning it as the 79th largest cryptocurrency in market cap. As SEI price holds strong, SEI network is currently trading at a market price of 37 cents, representing a 24-hour change of 6%. This comes after SEI hammered up over the past 48 hours from baseline support around $0.215 to hit a new all-time high at 40 cents. Now in minor, localized retracement, 5%, as price action reels from the major pump, SEI appears poised in the upside of the current trading channel. Furthermore, in a sign of technical strengthening, the 20DMA now provides a supportive foothold at $0.265, offering additional relief to any downside. However, warning signs emerge from the RSI, which overheated to major bearish divergence at $70 on the recent price move, suggesting retracement and consolidation could be needed. Yet the MACD, on the other hand, remains bullish with minor divergence at $0.0010. Overall, this leaves SEI in good posture, although vulnerable to further localized retracement movements. At SEI is targeting a foothold at the 80th around 38 cents, a potential plus 5%. While risking retracement, SEI could drop to 20DMA support around 26 cents, a possible minus 24%. This leaves SEI network with a current risk, reward ratio offering of $0.21, a high-risk entry with significant downside risk on the short-time frame, suggesting too late to buy. SEI network's blockchain explicitly built for trading has optimized every layer of its stack to provide infrastructure for trading apps of all types. SEI claims to outperform other layer 1 blockchains such as Solana and Aptos by offering a native order matching engine in layer 1. This engine enables exchange apps built on top to scale more efficiently than ever. One of the standout features of the protocol is its speed, with a lower bound time to the finality of 300Ms, making it the fastest chain in existence. This speed is achieved by implementing the twin-turbo consensus, consisting of intelligent block propagation and optimistic block processing. According to Koinjeko, these innovations reduce the time required to achieve consensus securely and reliably. Moreover, SEI's market-based parallelization sets it apart by offering a specialized kind of parallelization that differs from other leading blockchains. Additionally, SEI implements order batching to prevent front-running, enhancing the fairness and efficiency of its trading ecosystem. On the other hand, the SEI blockchain, launched on August 16th, has amassed a market cap exceeding $380 million and a 24-hour trading volume surpassing $1 billion. Notably, the blockchain has witnessed a surge in new user registrations, with over 40,000 new users joining in the past two days. SEI Labs co-founder Jayendra Jog recently unveiled the first parallelized Ethereum virtual machine EVM, combining the aspects of Solana and Ethereum. According to Jayendra, this hyper-optimized execution layer leverages the tooling and mindshare surrounding the EVM, addressing a major pain point for developers. As announced, SEI V2 introduces EVM support by integrating Go Ethereum and enabling seamless deployment of contracts from other EVM chains. This compatibility allows developers to leverage existing Ethereum-based tooling and resources without additional effort. Furthermore, optimistic parallelization eliminates the need for developers to define dependencies explicitly, enabling the chain to handle parallelization autonomously. This enhancement reduces developer friction and guarantees maximum parallelization of transactions whenever possible. SEI Labs co-founder stated that SEI V2 boasts orders of magnitude greater throughput with SEI's speed than Ethereum's Layer 1 or Layer 2 solutions. The protocol is upper bound of 12. 5K transactions per second, TPS, is supported by early load tests which have already observed over 5K TPS. SEI V2 will launch on a public testnet in the first quarter 2024. As SEI Network continues to garner attention from developers and traders alike, the future looks promising for this open-source Layer 1 blockchain. SEI token is showing strong bullish signals in 2023 as community investors are pumping their money into the token. SEI has grown by 145% in the last quarter of 2023 which is one of the biggest successes for an altcoin. As per our price prediction, SEI token can reach a maximum price level of 52 cents by 2023. The average price of SEI coin can be around 37 cents if current growth continues. However, if there is any bearish trend, the minimum price of SEI token can be down up to 28 cents. In the next bull rally, the prices of SEI coin may surge more than our long-term prediction. SEI tokens may get more investment in the upcoming years. As per our price forecast, the price of SEI coin can hit an average price level of the 68 cents mark by 2024. The year can end with a maximum price of 75 cents if there is any bullish event. There are strong possibilities that the SEI token can get again its position if there is any positive environment in the market. However, if there is any bearish environment in the market, the minimum price level of SEI coin can be around 54 cents. SEI token can be a great investment if you're a long-term hodler. According to our price prediction, the SEI token prices can hit a new 88th level this year. By 2025, we may expect an average price of 89 cents depending upon the market trend. If current growth continues, our maximum price prediction for SEI tokens is $1.13 in 2025. The minimum price level of SEI coin can be around 76 cents in 2025 if the market turns bearish. However, if the market gets bullish, SEI token may surge more than our price forecast in 2025.