SEI Token Surges 8.87% as Wyoming Stablecoin Pilot Selection Sparks Record Network Activity

SEIUSDT experienced a notable price increase of 8.87% over the last 24 hours, rising from 0.2007 to 0.2185 (Binance data). This upward movement is primarily attributed to Sei Network being selected as a candidate by the Wyoming Stable Token Commission for the WYST state-backed stablecoin pilot, which significantly boosted market sentiment and decoupled SEI from broader bearish trends. Additional factors supporting the price surge include strong on-chain activity, with a 15% rise in active addresses in the past day, a 130% increase in network transactions over the last month, and SEI’s recognition as “Coin of the Day” following a 10.21% daily gain. The current market capitalization stands at approximately $1.65 billion, with a 24-hour trading volume of $52.75 million and a circulating supply of about 2.93 billion SEI, reflecting robust investor interest and heightened trading activity.