Sei Token Surges 15% on Wyoming Stablecoin Designation

Sei (SEI), the native token of the Sei Network, has experienced a significant surge, rising over 15% in the past 24 hours to break above $0.21. This rally positions SEI as one of the top-performing tokens among the top 100 by market capitalization. The price has reached its highest level since June 11, 2025, with the market cap now standing at $1.18 billion. Previously, SEI was trading at $0.15 on June 17.

The catalyst for Sei’s price surge is a key development in the stablecoin space. Sei Network announced that the Wyoming Stable Token Commission had designated Sei as one of the candidate blockchains for the state’s forthcoming fiat-backed stablecoin, WYST. This designation is significant as WYST is the first fiat-backed stablecoin issued by a U.S. state and will be deployed using LayerZero’s Omnichain Fungible Token standard. The deployment is scheduled for July 2025 and has been under testing since March across multiple blockchains, including Sei, Aptos, Arbitrum, Avalanche, Base, Ethereum, Polygon, Optimism, Stellar, Solana, and Sui.

Sei’s selection was underpinned by a score of 30 in the Q1 2025 evaluation, narrowly trailing Aptos’s 32. This highlights Sei’s robust technical framework and vendor support, further validated by endorsements from prominent backers such as Circle, Delphi Digital, Multicoin Capital, and Coinbase. The market response to news that Trump is giving Iran more time to agree to a nuclear deal also buoyed cryptocurrencies, with Bitcoin rising above $106k and several altcoins flipping green. This outlook has also helped SEI’s price.

While the Sei token remains well off its historical peak of $1.14 reached in March 2024, the upside momentum could help buyers target levels above $0.30. This short-term perspective aligns with broader predictions for crypto and equities. Analysts noted that markets are in limbo, with participants digesting geopolitical headlines and recalibrating risk amid rising tensions. Volatility may just be taking a breather, not gone. Crypto stays quiet, but under the hood, risk sentiment is shifting. Bitcoin and Ethereum risk reversals favor downside, pointing to active hedging. Ethereum’s June implied volatility has dipped below September, a rare flip suggesting fading short-term event risk.

If SEI goes higher, the integration of Sei into the WYST framework could serve as a springboard for sustained growth. The key resistance levels to watch may be around $0.30, $0.46, and $0.70. On the flipside, support lies around $0.18 and $0.12. The market response to the news indicates heightened activity and optimism surrounding Sei’s potential role in the stablecoin ecosystem.