"Macroeconomic Concerns and Profit-Taking Lead to 7% Drop in SEI's Robinhood Launch"

The announcement on October 30 initially sparked enthusiasm, following a 15% weekly surge fueled by anticipation. Yet, the subsequent price drop underscored the difficulties of timing the market. Experts pointed to a “sell-the-news” reaction, where investors took profits early, and broader economic concerns overshadowed the listing’s benefits. Trading activity jumped 92% to $155 million, but most of this was attributed to selling, according to CoinGabbar

Technical analysis indicates a possible upward move if crucial support levels remain intact. SEI’s Relative Strength Index (RSI) is at 35.98, approaching oversold conditions, while the TD Sequential tool has signaled a buying opportunity at $0.19, as highlighted by LiveBitcoinNews. Analyst Ali mentioned that a steady climb above this price could drive SEI toward $0.31, though further gains would rely on overall market sentiment and increased institutional involvement.

Sei Network’s growing appeal among institutions provides additional stability. BlackRock and Brevan Howard have recently expanded their tokenized fund activities to the Sei blockchain through KAIO, allowing on-chain trading of assets such as the BlackRock ICS US Dollar Liquidity Fund. This move positions Sei as a bridge between institutional finance and retail users, according to CryptoTimes.

Robinhood’s addition of SEI also improves its availability, especially for retail investors in the U.S. The platform, which oversees $200 billion in assets, has previously listed tokens like