SEI saw a sharp 13.6% rally in the last 24 hours, driven by a mix of bullish catalysts including regulatory adoption, technical confirmation, and on-chain momentum.
Trader Michaël van de Poppe highlighted a trend reversal underway, with SEI holding strong above $0.19 and eyeing a move toward $0.30.
Wyoming Picks Sei for State Stablecoin Pilot
The primary catalyst came from Wyoming’s Stable Token Commission selecting Sei Network as a finalist for its WYST stablecoin trial. Scheduled to launch in July 2025, the pilot will use LayerZero’s cross-chain infrastructure. Sei’s selection reinforces its regulatory alignment and scalability—qualities that reportedly edged out Ethereum and Solana during the state’s testing phase.
The announcement coincided with a 6% price spike on June 19, further boosting investor confidence in SEI’s long-term institutional relevance.
Technical Breakout Triggers Bullish Flows
SEI broke out of a descending wedge—a pattern that historically precedes 40%+ upside moves. Open interest surged 21.9% to $131.96 million, while trading volume spiked 90.9% to $343.52 million. Short liquidations totaled $284,000, adding fuel to the breakout rally. Binance and OKX data revealed long/short ratios tilted firmly in favor of bulls.
Momentum indicators support further upside. The RSI sits at 58.13 with no overbought signals, while the MACD histogram continues to rise.
On-Chain Growth Adds Fuel
Beyond technicals and partnerships, Sei’s network is expanding rapidly. Daily active addresses hit 616,000, a 78% rise quarter-over-quarter, with 1.51 million daily transactions. The chain’s “Sei Giga” initiative, designed for AI-agent payments, positions SEI at the forefront of blockchain-AI integration.
Despite broader market volatility, Sei maintains $1.03 billion in total value locked, showcasing ecosystem resilience.
With regulatory tailwinds, a validated technical breakout, and rising user activity, SEI appears poised for further gains—especially if it holds above $0.19 and targets $0.30 resistance next.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/sei-breaks-out-as-price-surges-13-on-wyoming-stablecoin-news/