SEI Surges 6% After Wyoming Selects Sei for State Stablecoin Pilot

Highlights:

• SEI price jumped 6% after Wyoming named Sei a candidate blockchain for its WYST stablecoin
• Daily active addresses hit 616K, with 1.5M transactions confirming strong network growth
• Open interest and volume surged as traders positioned for a potential 44% price breakout

SEI has gained significant market attention after being chosen by Wyoming’s Stable Token Commission for its state-backed stablecoin pilot. Following the announcement, SEI rose over 6% to an intraday high of $0.1945. On-chain and market activity confirm a strong build-up behind the move.

Wyoming Endorsement Fuels SEI’s Institutional Narrative

Wyoming selected Sei Network as one of two final candidates for the WYST stablecoin rollout. The fiat-backed token will launch in July via LayerZero’s Omnichain Fungible Token standard. Aptos, Ethereum, Solana, and others were also considered, but Sei’s inclusion marks a key recognition.

This development was confirmed by Sei via X, with further details from state commission documentation. The state began stablecoin testing in March, evaluating multiple chains for security and efficiency. Sei’s selection aligns with rising institutional interest in U.S.-based high-performance networks.

The LayerZero integration ensures that WYST can move seamlessly across chains. This cross-chain design reflects a growing trend in stablecoin infrastructure. Sei’s performance and compliance track record played a role in its selection for the pilot.

On-Chain Metrics Show Surging Demand for Sei

Network activity on Sei v2 shows continued growth in adoption and usage. The number of daily active addresses has climbed to 616,000, with 1.51 million transactions processed over 24 hours. This confirms consistent participation and throughput across the chain.

Sei active addresses & transactions | Source : nansen_ai

Activity has steadily increased since early April, reversing the earlier downtrend. Both sender-only and full address counts show expansion, indicating broader usage beyond trading. These metrics support Sei’s positioning as a viable settlement layer.

Sei is also gaining visibility in the AI payments space through its “Sei Giga” initiative. The network aims to serve as a fast transaction rail for AI agents. This positioning aligns with industry forecasts predicting a $200 billion AI-agent economy.

Technicals and Derivatives Data Point to Continued Upside

The SEI/USDT chart displays a confirmed breakout from a descending wedge. A similar pattern in April led to a 56% rally, and current targets imply a possible 44% gain toward $0.27. The bullish setup is supported by expanding price structure and volume.

Source : X

Derivatives data reflects increasing confidence, with open interest up 21.88% to $131.96 million. Trading volume surged 90.93% to $343.52 million, highlighting renewed positioning. Binance and OKX show long/short ratios favouring longs across accounts and positions.Liquidation data confirms that shorts were squeezed during the rally. Over $340K in liquidations occurred in 24 hours, with $284K from short positions. The momentum shift and price breakout suggest SEI may maintain strength if volume persists.

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