SEI Price and Volume Surge After Wyoming Taps Network for Stablecoin Project

• Sei Network has been selected by Wyoming as a candidate to host its state-issued stablecoin.
• The announcement caused SEI’s 24-hour trading volume to surge by over 70%.
• The selection places Sei ahead of other major blockchains that were also considered.

Sei Network (SEI) has been selected by the Wyoming Stable Token Commission as one of only two candidate blockchains for the deployment of WYST, the first government-issued, fiat-backed stablecoin in the United States. The announcement in turn triggered a positive market reaction for the SEI token. 

Following the news, SEI’s 24-hour trading volume surged by over 70% to $245 million, and its market capitalization surpassed $1.1 billion, according to CoinMarketCap data. This selection places Sei in a small, distinguished group of blockchains being considered for public-sector financial infrastructure.

WYST Selection: A Milestone for Sei Network

The Wyoming Stable Token Commission’s decision to shortlist Sei is a major development for the Layer 1 blockchain. The state-backed WYST stablecoin will leverage LayerZero’s Omnichain Fungible Token (OFT) standard for interoperability.

Notably, other prominent blockchains such as Ethereum, Solana, Polygon, and Optimism were considered but not selected in this final round, adding to the prestige of Sei’s inclusion.

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The network is supported by a number of prominent crypto-native firms, including Coinbase, Circle, Delphi Digital, and Multicoin Capital. On-chain data from DeFiLlama shows Sei’s Total Value Locked (TVL) is currently $28.5 million, with a stablecoin market cap of $21.7 million.

SEI Price Analysis: What the Chart Says

The positive news is reflected in Sei’s technical indicators. On the daily chart, the Relative Strength Index (RSI) has climbed to 59. This upward movement from the mid-40s to near 60 suggests building momentum, though it hasn’t yet entered overbought territory (>70), leaving room for further upside.

Also, the MACD line has just crossed above the signal line, with the histogram shifting into positive territory. The bullish crossover indicates the beginning of positive price momentum.

The price of SEI is currently trading at $0.2090. Using the chart’s Fibonacci levels (from the swing low at $0.1765 to the recent local high at $0.2750), it is clear that the key resistance levels stand at 0.382 Fib: $0.2111, 0.5 Fib: $0.2257, 0.618 Fib: $0.2403, and 0.786 Fib: $0.2539.

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If SEI maintains current momentum and breaks through resistance at $0.225–$0.24, the $0.335–$0.43 zone becomes the next target range, supported by Fibonacci extensions and bullish sentiment.