SEI Breaks Out as Price Surges 13% on Wyoming Stablecoin News
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 kam 2021 zum Team und hat sich mit seinem Wissensdurst, seiner unglaublichen Hingabe und seiner analytischen Denkweise schnell einen Namen gemacht. Er deckt nicht nur ein breites Spektrum an aktuellen Themen ab, sondern schreibt auch bemerkenswerte Rezensionen, PR-Artikel und Bildungsinhalte. Seine Arbeit wird auch von anderen Nachrichtenagenturen zitiert.
