Sei Token Surges 34.77% Amid Regulatory Boost and Institutional Backing

Sei (SEI) has experienced a significant price surge, driven by regulatory developments and institutional backing. The token's price increased by 34.77% over the past 24 hours, reaching $0.2742 at the time of publication. This surge comes amidst major developments that highlight SEI’s role in stablecoin infrastructure and institutional support.

On June 19, the Sei Network was selected by the Wyoming Stable Token Commission as a candidate chain for the state’s stablecoin, WYST. The blockchain received a perfect score of 30 out of 30 in the commission’s technical evaluation. WYST, the first fiat-backed stablecoin issued by a U.S. state, will launch using LayerZero’s infrastructure. This selection positions SEI within a growing trend of public sector engagement in digital asset innovation and aligns with broader U.S. interest in regulating and standardizing stablecoins. Market watchers view the asset’s perfect score as validation of its technical strength.

Adding to the momentum, stablecoin issuer Circle recently completed its IPO, reaching a $59 billion market cap. According to filings, Circle holds more tokens than any other digital asset in its treasury. SEI’s official social account congratulated Circle on the milestone and highlighted its own role as a blockchain enabler for stablecoin expansion. Analysts like GonzoXBT pointed out that Circle’s success indirectly elevates SEI’s profile, benefiting from both institutional exposure and growing credibility within the stablecoin narrative. This linkage reinforces investor interest and contributes to the token’s upward movement.

Trading volume for the token has surged by over 286% in the past day, reflecting growing market participation. The token’s daily range moved between $0.1979 and $0.2891, breaking past previous resistance levels. According to CoinGecko data, the crypto’s recent high of $0.2853 surpasses its May peak. Traders, including AlienOvichO, suggest that SEI could be targeting $0.30 to $0.33 in the short term. He added that if current momentum continues, the asset may extend toward $0.39 in the coming weeks. This projection aligns with the current breakout pattern seen in the asset’s price chart. Beyond the charts, the SEI ecosystem is benefiting from a growing stablecoin infrastructure narrative. Crypto users like Crypto_Skull1 see the crypto asset as an undervalued chain with strong fundamentals. He emphasized that those who understand the token’s architecture are already backing the network.