SEI Breaks Out as Price Surges 13% on Wyoming Stablecoin News

Trader Michaël van de Poppe highlighted a trend reversal underway, with SEI holding strong above $0.19 and eyeing a move […]

The post SEI Breaks Out as Price Surges 13% on Wyoming Stablecoin News appeared first on Coindoo.

Trader Michaël van de Poppe highlighted a trend reversal underway, with SEI holding strong above $0.19 and eyeing a move toward $0.30.

Wyoming Picks Sei for State Stablecoin Pilot

The primary catalyst came from Wyoming’s Stable Token Commission selecting Sei Network as a finalist for its WYST stablecoin trial. Scheduled to launch in July 2025, the pilot will use LayerZero’s cross-chain infrastructure. Sei’s selection reinforces its regulatory alignment and scalability—qualities that reportedly edged out Ethereum and Solana during the state’s testing phase.

   

 

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The announcement coincided with a 6% price spike on June 19, further boosting investor confidence in SEI’s long-term institutional relevance.

Technical Breakout Triggers Bullish Flows

SEI broke out of a descending wedge—a pattern that historically precedes 40%+ upside moves. Open interest surged 21.9% to $131.96 million, while trading volume spiked 90.9% to $343.52 million. Short liquidations totaled $284,000, adding fuel to the breakout rally. Binance and OKX data revealed long/short ratios tilted firmly in favor of bulls.

Momentum indicators support further upside. The RSI sits at 58.13 with no overbought signals, while the MACD histogram continues to rise.

On-Chain Growth Adds Fuel

Beyond technicals and partnerships, Sei’s network is expanding rapidly. Daily active addresses hit 616,000, a 78% rise quarter-over-quarter, with 1.51 million daily transactions. The chain’s “Sei Giga” initiative, designed for AI-agent payments, positions SEI at the forefront of blockchain-AI integration.

Despite broader market volatility, Sei maintains $1.03 billion in total value locked, showcasing ecosystem resilience.

With regulatory tailwinds, a validated technical breakout, and rising user activity, SEI appears poised for further gains—especially if it holds above $0.19 and targets $0.30 resistance next.

The post SEI Breaks Out as Price Surges 13% on Wyoming Stablecoin News appeared first on Coindoo.

 

Source: https://coindoo.com/sei-breaks-out-as-price-surges-13-on-wyoming-stablecoin-news/

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