Here’s Why ​​SEI Price is Pumping Today

TLDR:

• SEI selected by Wyoming for first U.S. state-backed stablecoin project, WYST
• Circle IPO filing shows SEI is its top on-chain treasury asset
• SEI price jumped 34.77% with trading volume exceeding $931 million
• Analysts eye short-term targets of $0.33–$0.39 amid technical breakout

The price of Sei (SEI) has surged dramatically following a wave of favorable news tied to regulation and institutional activity. Over the past 24 hours, SEI recorded a price gain of 34.77%, trading at $0.2742 at publication, with volume soaring past $931 million. 

The token has also risen by over 64% in the past week, placing it at the center of renewed market attention. This spike comes as major developments spotlight SEI’s role in stablecoin infrastructure and institutional backing. 

SEI Chosen for State-Backed Stablecoin Project

On June 19, the Sei Network revealed that it was selected by the Wyoming Stable Token Commission as a candidate chain for the state’s stablecoin, WYST. The blockchain scored 30 out of 30 in the commission’s technical evaluation. 

WYST, the first fiat-backed stablecoin issued by a U.S. state, will launch using LayerZero’s infrastructure. This selection positions SEI within a growing trend of public sector engagement in digital asset innovation.

This development aligns with broader U.S. interest in regulating and standardizing stablecoins. The move signals early steps toward integrating blockchain infrastructure into government-backed digital currencies. 

Market watchers view the asset’s perfect score as validation of its technical strength.

Adding to the momentum, stablecoin issuer Circle recently completed its IPO, reaching a $59 billion market cap. According to filings, Circle holds more tokens than any other digital asset in its treasury. 

Congratulations on the incredibly successful IPO of one of the biggest investors in $SEI, Circle, which hit a market high of $59B today on the heels of Senate approval of the GENIUS act for stablecoins.

Stablecoin issuers like Circle are starting to recognize Sei technology as a… pic.twitter.com/qb73IwOuH0

— Sei (@SeiNetwork) June 24, 2025

SEI’s official social account congratulated Circle on the milestone and highlighted its own role as a blockchain enabler for stablecoin expansion.

Analysts like GonzoXBT pointed out that Circle’s success indirectly elevates SEI’s profile. He noted that SEI benefits from both institutional exposure and growing credibility within the stablecoin narrative. 

This linkage reinforces investor interest and contributes to the token’s upward movement.

SEI Market Activity Signals Renewed Interest

Trading volume for the token has surged by over 286% in the past day, reflecting growing market participation. The token’s daily range moved between $0.1979 and $0.2891, breaking past previous resistance levels. 

According to CoinGecko data, the crypto’s recent high of $0.2853 surpasses its May peak.

Traders, including AlienOvichO, suggest that SEI could be targeting $0.30 to $0.33 in the short term. He added that if current momentum continues, the asset may extend toward $0.39 in the coming weeks. 

This projection aligns with the current breakout pattern seen in the asset’s price chart.

Beyond the charts, the SEI ecosystem is benefiting from a growing stablecoin infrastructure narrative. Crypto users like Crypto_Skull1 see the cypto asset as an undervalued chain with strong fundamentals. 

$SEI just pumped 45% — and it's still one of the most undervalued chains out there.

If you understand the tech, you’re already betting on SEI.

This move isn’t done — SEI’s going higher. #SEI #Layer1 #CryptoGems #Altseason pic.twitter.com/ziKlkFkAkB

— Skull (@Crypto_Skull1) June 24, 2025

He emphasized that those who understand the token’s architecture are already backing the network.

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