Why is Sei (SEI) up 17.51% Today, September 28, 2026? ETF Staking Expectations Drive a High-Beta Rebound

SEI outperformed sharply (+17.51%) despite a broad crypto market drawdown, indicating a token-specific, high-beta repricing. The main driver is continued positioning around a proposed "Staked SEI ETF" structure that could stake ~90% of assets, alongside a fresh infrastructure narrative (Hermes/Sei Giga). Elevated turnover (~28.8% of market cap) reinforces momentum, though stretched RSI signals crowded near-term conditions.