Sei Price Surge Following Wyoming Stablecoins Selection

• Sei rallied 35% in 3 days after being shortlisted as a pilot program for state-backed stablecoins in Wyoming.
• The token is emerging from a long-term wedge pattern, supported by strong technical indicators during the rally.
• Analysts predict further upside as trading liquidity increases and investor sentiment improves.

Sei (SEI) experienced a notable price increase this week after being selected as a finalist in the Wyoming Stable Token (WYST) pilot program. On June 20, SEI was priced at $0.2136, a 35% increase from its low of $0.1596 just days prior. This upward trend is a breakout from a long-term descending wedge, suggesting a potential change in market direction.

In 2023, the Wyoming Stable Token Commission evaluated Sei and Aptos for the final phase of testing. Sei scored 30 points, slightly below Aptos’s 32, outperforming competitors like Avalanche, Sui, and Ripple’s XRP Ledger based on criteria such as uptime and security.

WYST is a blockchain-backed stablecoin, leveraging LayerZero technology for cross-chain interoperability. It features a one-to-one USD redemption process, making it one of the first state-issued stablecoins in the U.S.

This regulatory-backed initiative has spurred increased investor interest, leading to a 15% gain for SEI in just 24 hours, bringing its market cap to approximately $1.18 billion.

Technical Analysis Indicates Bullish Momentum

The daily chart for SEI/USDT suggests a bullish breakout from a six-month descending broadening wedge. The token moved from a low of $0.1596 on June 17 to a high of $0.2144 on June 20.

Technical indicators support this bullish sentiment. The RSI is rising to 55.66, and the MACD has crossed above the signal line, indicating positive momentum.

Bollinger Bands confirm rising volatility, showing SEI nearing the upper band at $0.2107, suggesting strong short-term demand. The price breakout above the 20-day moving average ($0.1887) reflects bullish activity.

Notable traders like FOUR have observed the chart’s structure, indicating a potential price move toward $0.80 if the momentum persists.

Legislation and Ecosystem Growth Foster Optimism

Market reactions are aligned with broader U.S. regulatory trends for cryptocurrency. The Senate has passed the GENIUS bill, which aims to create a federal framework for stablecoins, pending House approval. This would outline guidelines for state-issued stable assets like WYST.

The announcement of SEI coincides with growing speculation about the ecosystem’s expansion. Although there have been no new updates since the announcement, analysts believe that upcoming partnerships or upgrades might be in the pipeline. Viktor, a market observer, pointed out the breakout’s timing and the social media excitement, suggesting institutional investors could be positioning themselves ahead of future developments.

> So what is the soon-to-be-announced news that an insider is twapping into on $SEI ? pic.twitter.com/0mtRyIOpd3
> — VIKTOR (@thedefivillain) June 20, 2025