Sei Network, a rapidly expanding Layer 1 blockchain with nearly $24 million in total value locked (TVL), has successfully integrated with OpenSea, a leading NFT marketplace. This integration allows NFT holders on the Sei network to trade on OpenSea seamlessly. Sei Network offers users low fees and fast transactions, enhancing broader crypto adoption.

The Sei team highlighted that OpenSea leverages Sei’s rapid finality and throughput to provide a Web2-like experience in crypto. Sei’s scaling approach to Ethereum delivers Solana-like performance to the Ethereum Virtual Machine (EVM), ensuring efficient NFT transactions.

This integration is a significant milestone for the NFT space amid the mainstream adoption of digital assets and web3 projects. Both Sei and OpenSea have robust community support and have grown through the 2022/2023 crypto bear market.

Currently, the Sei network is ranked 85th with a market cap of about $1.5 billion and an average daily traded volume of around $79 million. OpenSea has a cumulative NFT trading volume of approximately $39 billion, peaking in early 2022. Despite a decline in NFT trading volume over the past two years due to fraud and scams, global crypto regulation has recently revitalized the industry. In April, OpenSea reported 283,640 monthly active users.

Sei Network is transitioning to Sei V2, introducing significant upgrades, including dual address support. Recently, it moved from phase one to the second round of the Sei V2 launch process. The integration with OpenSea is expected to boost the adoption of SEI coins in the coming months. SEI has established a solid support level around 50 cents amid the ongoing crypto recovery.

Technically, SEI price has been forming a macro reversal pattern after a correction phase since early this year. If SEI fails to rebound from the current consolidation, it could drop by 35% towards 31 cents, aligning with the weekly 0.786 Fibonacci Retracement.

Ultimately, Sei Network is positioning itself to compete with top-tier Layer 1 blockchains like Solana (SOL) and Toncoin (TON) in driving web3 and digital asset mass adoption. Notable DeFi projects on the Sei network include Astroport DEX, SiloStake, and Levana Perps.