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Here’s why SEI prices fell 2% despite 21Shares Spot ETF filing
In a surprising turn of events, the price of SEI has fallen by 2.71% over the past day, defying expectations that the recent news surrounding 21Shares’ Spot ETF filing would spark a surge in demand for the altcoin. Instead, sellers dominated both the Spot and Futures markets, leading to a steep decline in prices.
The market had anticipated a rush of fresh capital into SEI following the ETF filing, which could have provided much-needed support to the asset’s value. However, it seems that investors have decided to sit on the sidelines for now, opting instead to take profits as sellers continue to dictate the price action.
Despite this setback, there is still potential for a rebound in SEI prices should market conditions shift in favor of buyers.
Source: ambcrypto.com
