SEI price plunges over 17% amid weak network activity and heavy capital outflows.

SEI's price dropped more than 17% in 24 hours, driven by declining network activity and significant capital outflows in its Futures market. Daily transaction fees and DEX volume have fallen sharply since early June, indicating reduced usage and liquidity. The price broke a key two-month support level, with technical indicators suggesting potential further declines unless network activity and market sentiment improve. A possible reversal could occur near $0.04845 if buying interest returns and overall crypto market conditions turn positive.