Sei Network Selected for Wyoming Stablecoin Pilot Boosts SEI 26%

Sei Network has been selected by Wyoming for its upcoming USD-backed WYST stablecoin pilot, scheduled to launch in July. This development is expected to enhance SEI’s real-world utility and credibility within U.S. regulatory frameworks. The announcement coincides with SEI’s market recovery, indicating broader optimism around the network’s growing adoption.

Wyoming’s selection of Sei Network for the WYST stablecoin pilot is a significant milestone for SEI. The pilot will test the integration of a USD-backed digital asset using Sei’s infrastructure, adding credibility to Sei’s blockchain capabilities. This move underscores SEI’s use case expansion into government-backed projects and may open doors to further blockchain integrations in the public sector.

Technical indicators show a reversal in SEI/USDT from its accumulation zone near $0.16. The asset has successfully broken out of its descending trendline, accompanied by a marked 26% rise. This breakout signals a shift from its prolonged downtrend, with resistance levels mapped at $0.28, $0.40, and $0.70. Holding above $0.20 remains essential for sustaining bullish momentum. A projected rally of 1,174% places the price target near $2.01.

The chart reflects increasing trader confidence, shown by a gradual climb and market resilience. Analysts interpret the structure as preparing for a longer-term breakout, contingent on momentum maintenance. The token is testing the MA21—seen as a key resistance level since April 2024. Breaking above this point is critical for the continuation of an upward cycle. The current chart structure resembles a large ABC formation, with SEI entering Wave C.

If SEI continues on this path, it may reinforce its role in broader blockchain adoption and digital currency development. The Wyoming pilot underscores SEI’s use case expansion into government-backed projects, which may open doors to further blockchain integrations in the public sector. This move may open doors to further blockchain integrations in the public sector.