- SEI surged by 50% in a week after Wyoming shortlisted it for its WYST stablecoin, boosting investor sentiment and public interest.
- SEI’s TVL hit $591M, led by Yay Finance with $330M, showing strong DeFi traction and increasing on-chain activity.
- SEI’s focus on real-world assets and growing to 8M+ active wallets makes it a rising EVM chain with institutional relevance.
SEI has had increased attention following a 45% price surge in one week, as reported by Altcoin Buzz. Once dismissed after a troubled airdrop in 2023, SEI is now gaining renewed momentum due to its selection as a finalist in Wyoming’s stablecoin project.
At the time of reporting, SEI was trading at $0.3082, a nearly 10% gain in 24 hours and a 50% increase over the past week. Analysts note that this uptick aligns with growing confidence in the project’s updated offerings and strategic positioning.
Wyoming, known for its crypto-friendly policies, recently revealed plans to launch a state-managed stablecoin named WYST, with SEI being one of the platforms shortlisted for deployment.
Wyoming’s Stablecoin Plans Boosts SEI
The boost in SEI’s market value began shortly after Wyoming’s May announcement on testing various blockchains for its stablecoin. According to Altcoin Buzz, SEI emerged as a top contender alongside Aptos and Solana.
While Wyoming has not finalized its decision, SEI’s inclusion has changed public perception. The project’s resurgence is rooted in more than just speculation. Its recovery from previous setbacks now places it as a potential infrastructure provider for state-backed digital assets.
The Wyoming development is not the only driver behind SEI’s growth. The platform’s ecosystem has expanded majorly, with its total value locked (TVL) reaching $591 million. This ranks it 16th among all chains.
SEI’s leading protocol, Yay Finance, holds over $330 million, about 60% of the platform’s total TVL. Another contributor, YACA Finance, has also drawn attention within decentralized finance communities. This growing usage suggests a broader increase in on-chain activity and developer interest.
Fast-Growing EVM Chain with Real-World Asset Focus
SEI has now become one of the fastest-growing EVM-compatible chains, behind only Base, which is backed by Coinbase. As noted by Altcoin Buzz, SEI has seen a rise in active wallet addresses, exceeding 8 million.
This growth is attributed to the network’s focus on building a financial app chain aimed at both crypto-native and TradFi users. SEI’s support for stablecoins, yield aggregators, liquid staking, and derivatives has laid the foundation for deeper integration with real-world assets.
Importantly, SEI’s design focuses on positioning itself within the expanding real-world asset (RWA) sector. With institutional firms such as BlackRock exploring tokenized assets, SEI is up for broader applications.
Its current market cap is at $1.7 billion, and its all-time high was $1.14, recorded in March 2024. A breakout above this level could lead to further market activity and potential upside.
SEI’s Potential Price Scenarios
If SEI breaks its previous high of $1.14, bullish projections could see the price range between $0.90 and $1.40. A more conservative bearish case, especially if Wyoming selects a competing chain, places SEI’s price between $0.20 and $0.26.
However, current support levels and ecosystem growth provide a support against deeper declines. Overall, SEI’s recent developments have shifted its market position from a forgotten project to a key blockchain contender.
The combination of Wyoming’s stablecoin testing, rising TVL, and RWA infrastructure expansion has created new interest. Whether it can sustain this momentum depends on both regulatory outcomes and broader sector adoption.
