SEI, the native token of the Sei blockchain, surged 7% today as the network announced plans to transition entirely from Cosmos to Ethereum.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
2 mins read
SEI [NC], the native cryptocurrency of Layer-1 blockchain Sei, has gained 7% today amid news of its complete transition from Cosmos to Ethereum blockchain networks. As a result of this, SEI’s market cap has soared past $1.0 billion, with its daily trading volume also jumping 32% to $75 million.
A look into the derivatives market shows that the SEI futures open interest is up 15.88% to $120 million, highlighting strong interest among traders, according to the CoinGlass data. SEI token is making another push to break through the critical $0.22 resistance level. Market analysts suggest that flipping this level into support could pave the way for a significant rally, with an upside target of $0.33.
$SEI #SEI
another attempt to break through 0.22$ area
flip this and we go 0.33$ easily
come on babe… it's time !$seiusd #seiusdt #L1 #Altcoins https://t.co/iisUXdBebU pic.twitter.com/Xqh0k4rOZ6— Crypto Feras (@CryptoFeras) May 8, 2025
On the other hand, SEI has also been achieving key milestones with on-chain metrics. SEI has secured the 4th spot in net flows by chain, trailing closely behind Ethereum ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B .
This ranking highlights significant capital inflows into the SEI network, driving increased activity and trading volume on-chain. Market participants are monitoring these developments as a signal of growing interest and utility within the SEI ecosystem.
$SEI is ranked #4 in net flows by chain, just behind $ETH!
The bigger the money inflows the bigger the activity and the volume on chain. 📈@SeiNetwork is getting noticed!👊 pic.twitter.com/pqr3pjHmPO
— Mati (@MatiBNB) May 8, 2025
On Wednesday, a Sei blockchain developer proposed to remove the blockchain’s Cosmos support with the goal of reducing “complexity” for users. If approved, the proposal will restrict Sei users to sending and receiving only Ethereum-compatible transactions.
In the proposal, Philip Su, Engineering Lead at Sei Labs, said that eliminating Cosmos support will streamline the blockchain, lower infrastructure demands, and enhance Sei’s integration within the Ethereum ecosystem.
“This transition will lead to greater adoption, improved developer experience, and a more cohesive community,” he said.
On the other hand, Ethereum-based infrastructure, powered by the Ethereum Virtual Machine (EVM), serves as the backbone for most decentralized finance (DeFi) applications. Major blockchains, including Ethereum itself, Coinbase’s Base, and Binance-affiliated BNB Chain, also rely on the EVM.
As of now, Sei blockchain supports both EVM and CosmWasm. “While this dual architecture has provided flexibility, it also introduces significant complexity and friction for both users and developers,” Su said.
Earlier this year, Donald Trump’s World Liberty Financial DeFi project started accumulating SEI tokens as part of its portfolio.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
