SEI has emerged as one of the day’s strongest altcoin performers after two converging catalysts: a sharp momentum-driven surge and a major regulatory filing update from Canary Capital.
Canary Capital filed Amendment No. 2 to its Form S-1 for the Canary Staked SEI ETF on September 21, a day after the Sei Network flagged the change. The revised filing targets roughly 90% of the fund’s SEI holdings to be staked, with BitGo Trust Company named as sole custodian. The product is slated to list on the Cboe BZX exchange; ticker and sponsor fee have not yet been disclosed. Earlier drafts had split custody duties between BitGo and Coinbase Custody, but the new structure removes Coinbase entirely, consolidating custody and staking under one regulated South Dakota-chartered trust.
The market read the amendment as a step closer to a live product. SEI traded near $0.063 with a market capitalization around $476 million after a 33% single-day advance. On the 4-hour chart, the 14-period RSI reached 87.74, well above overbought territory, while price traded far above its 20-period SMA at $0.05006 and 50-period SMA at $0.04626. Breakout volume was the heaviest in weeks at roughly 110 million SEI, suggesting real participation rather than thin liquidity. Price data showed a 24-hour range of $0.04706 to $0.06444 and a 24-hour change of 36.47%, with 24-hour trading volume of $22,368,500.7.
Beyond the ETF, SEI already had a technical narrative building. Sei’s Giga roadmap aims for more than 200,000 transactions per second and sub-400 millisecond finality. The August 4 launch of the v6.6 upgrade deployed the Ares execution client and Eidos storage layer; on September 1, Sei Labs posted 24-hour FlatKV benchmarks averaging 205,913 TPS, about a 13.7x speedup over the current event store. Autobahn, the multi-proposer consensus layer, remains the final major piece.
Near-term direction depends on two separate clocks: SEC movement on the amended S-1 and the timing of Autobahn. Approval timing for staking-based ETF products remains uncertain, and with RSI near 88, the current price has already priced in considerable optimism. Traders are watching whether SEI holds above the old resistance shelf near $0.05 on any pullback, with next resistance around $0.065 and support near $0.060.
