In the last week, SEI $0.2759 has increased by more than 50%, outpacing all other top-100 tokens by market capitalization.
Analysts attributed the surge to a "multifactor rally." We believe that SEI just produced one of the most clean multi-factor rallies of the year; it was up 45% intraday on four times the typical volume. In an email to CoinDesk, experts at B2BINPAY stated that there were three strong factors at play.
In order to give its dollar pilot institutional credibility, Wyoming used SEI as the settlement layer.
Next came a 9% staking APY hike from core validators, followed by the v2 airdrop snapshot," they continued.
Last week, the Wyoming Stable Token Commission selected Aptos and Sei for its stablecoin pilot program. Sei received a score of 30 points based on measures like transaction finality, fees, and transactions per second.