- JFSA approval opens Japan’s tightly regulated market to Sei Network’s growth
- Sei hits record 671K active addresses, signaling rapid adoption and user growth
- Despite bearish trend, RSI and MACD hint at possible short-term $SEI price reversal
Sei Network ($SEI) is making headlines after receiving approval from Japan’s Financial Services Agency (JFSA), marking a major milestone for the project. This regulatory greenlight is essential for any cryptocurrency to be listed on Japanese exchanges, giving Sei direct access to one of the most highly regulated and active crypto markets globally.
AltcoinGordon, an analyst sees this as a pivotal move that could dramatically influence $SEI’s trajectory. Historically, similar approvals, like Ripple’s XRP, triggered major price rallies. Investors are now watching closely to see if Sei follows the same pattern.
Surging On-Chain Activity Signals Strong User Growth
Besides regulatory progress, Sei’s network metrics have shown significant improvement. According to data from Crypto Rand, daily active addresses on the Sei blockchain have surged by over 101% in the past three months.
The recent peak of 671,300 addresses set a new all-time high. Notably, Sei crossed the 600,000 daily address mark in mid-June, which many see as a confirmation of rising adoption.
Related: SEI Price Soars on Circle Sparks Investor FOMO; Traders Now Ask Is $1 Next?
In the past month alone, active addresses have climbed by 13%, reflecting increased user engagement and network utility. As the Japanese investor base gains access following JFSA approval, analysts expect these numbers to rise even further. Increased participation could push Sei toward a more bullish long-term outlook, especially if current growth trends continue.
Price Trends Show Weakness But Hints of Reversal
Despite the positive fundamental developments, $SEI remains in a bearish technical structure. The token as of press time is trading around $0.2646, down nearly 5% in the past 24 hours and over 11% for the week.
According to analyst @gemxbt, Sei is hovering near a critical support level at $0.26. While this level has held so far, breaking below it could lead to further downside.
The Relative Strength Index (RSI) is approaching the oversold zone, suggesting a potential for short-term reversal. Moreover, the MACD indicator remains bearish but is starting to converge, indicating weakening selling pressure.
Related: 47% Surge: Is SEI the Next Solana in Disguise?
Momentum remains subdued, but a bounce from current levels could push Sei toward the $0.275–$0.28 resistance range.
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