SEI Token Surges 17.57% as TVL Hits $540M and Wyoming Stablecoin Pilot Fuels Demand

SEIUSDT has experienced a significant 24-hour price increase of 17.57%, rising from an open of $0.2498 to a current price of $0.2937 on Binance. This sharp upward movement is primarily attributed to a combination of factors, including heightened market activity following SEI’s selection as the settlement layer for Wyoming’s dollar stablecoin pilot, anticipation around a version 2 airdrop snapshot, and increased staking returns. Additionally, SEI’s total value locked (TVL) has surged to over $540 million, reflecting strong organic demand and growing participation in its DeFi ecosystem. These developments have driven robust trading volumes, with the latest 24-hour volume reaching $643.7 million and market capitalization standing at approximately $1.59 billion. While sentiment remains bullish amid these catalysts, some models suggest potential short-term volatility ahead.