SEI targets 55% rally as native USDC support sparks inverse H&S breakout

Key Points

1. SEI's price surged over 26% on July 11, reaching a six-month high of $0.33, with a market cap of $1.78 billion and a 200% increase in daily trading volume.

2. The network will soon support native USDC, enabling seamless transfers between Sei and other major chains like Ethereum, Solana, and Avalanche.

3. Analysts project an upside target of $0.499, with potential to reach $1.50 by year-end, supported by bullish technical indicators like MACD and RSI.

4. Open interest in SEI futures surged by 210% to $318 million, and total value locked in Sei’s DeFi protocols hit a new all-time high of $1.4 billion.

5. Circle holds 6.25 million SEI tokens, and Sei is under review by the Wyoming Stable Token Commission for the WYST stablecoin project, with a decision expected on July 17.