SEI Price Rallies 8% After WLFI Buys 4.89M Tokens

Tech

SEI Price Rallies 8% After WLFI Buys 4.89M Tokens

Sei (SEI), a fast-growing Layer 1 blockchain focused on optimizing crypto trading and DeFi development, has received significant support from Donald Trump-backed World Liberty Finance (WLFI). After concluding one of the most heavily subscribed token sales in recent history, World Liberty Finance has been engaged in strategic token purchases.

According to on-chain data, World Liberty Finance has spent $346.8 million on 11 different tokens, but every single one is in the red, with a total loss of $145.8 million.

World Liberty Finance Double Downs on Sei Network

Earlier today, the World Liberty Finance team purchased 4.89 million SEI coins, for about $775k, at an average price of about $0.158. According to on-chain data, the World Liberty Finance protocol now holds 5,983,278 SEI coins, currently worth about $969k.

Why WLFI Invested in Sei

The Sei network has grown to a vibrant web3 ecosystem in the recent past, with more than $377 million in total value locked (TVL) and over $190 million in stablecoins market cap. Trumps WLFI has been investing in web3 protocols that align with its long-term goals, led by Chainlink (LINK), and Ethereum.

With the Sei network built on the Cosmos SDK to maximize multichain adoption, Trumps WLFI project May launch on the Sei ecosystem to scale its products.

Market Impact

SEI price has been trapped in a falling logarithmic trend since hitting its all-time high above 96 cents in March 2024. The mid-cap altcoin, with a fully diluted valuation of about $1.6 billion and a 24-hour average trading volume of about $55 million, rallied over 8 percent in the past 24 hours to trade about $0.162 on Saturday during the early European trading session.

From a technical analysis standpoint, the SEI price must consistently close above the falling logarithmic trend in the daily time frame to confirm a reversal pattern.