TL;DR
- Sei surged 15% after Wyoming’s Stable Token Commission shortlisted it (alongside Aptos) to host WYST, the state’s first fiat-backed stablecoin.
- Leveraging LayerZero’s Omnichain Fungible Token standard, the network’s high throughput and compliance-ready design clinched Wyoming’s endorsement.
- Riding 600k+ daily active addresses and 1.5M transactions per day, the network enters a showdown with Aptos as WYST’s mid-year launch looms.
Sei Network rocketed 15% today after Wyoming’s Stable Token Commission named it one of two finalist blockchains to host the state’s maiden fiat-backed stablecoin, WYST. The surprise endorsement sent traders scrambling for token’s positions and placed the Layer-1 protocol firmly in the national spotlight.
https://twitter.com/SeiNetwork/status/1935759503179620584
Wyoming’s WYST Pilot Picks Sei
In a tightly contested selection process, Wyoming narrowed its search to Aptos and Sei for the WYST stablecoin rollout, set to launch this July. The commission evaluated numerous chains, including Ethereum, Solana, Avalanche, and more, before settling on the network’s high-throughput design and compliance track record.
By building WYST on LayerZero’s Omnichain Fungible Token standard, Wyoming aims to harness seamless cross-chain transfers while maintaining full regulatory oversight.
SEI Rockets 15% on Pilot News
Within minutes of the announcement, SEI’s price exploded from $0.18 to an intraday peak of $0.21, marking a 15% surge. Trading volume spiked across major exchanges as speculators and long-term backers alike piled in. Derivatives markets lit up too, with open interest climbing sharply and funding rates flipping positive. The bullish sentiment shows growing confidence that the network could cement its role as the settlement layer for state-backed digital dollars.
On-Chain Momentum Meets Institutional Demand
Behind today’s pump lies weeks of steady network growth. Daily active addresses recently surpassed 600,000, while transaction throughput topped 1.5 million in 24 hours. That uptick reflects increasing DeFi deployments, gaming integrations, and enterprise pilots building on Sei v2’s parallelized execution engine.
As traditional institutions eye blockchain rails for tokenized assets, Wyoming’s seal of approval offers a powerful vote of confidence in the network’s security and scalability.
What’s Next for Sei and State Stablecoins
With WYST set to go live mid-year, Sei must battle Aptos for final design and integration honors. Both networks will undergo rigorous audits, stress tests, and real-world transaction trials.
Meanwhile, the broader crypto market will watch closely: a successful state-backed stablecoin could unlock new on-chain demand and set a template for other jurisdictions. For the network, today’s 15% leap is just the opening act in what may become one of the most significant blockchain-to-sovereign partnerships yet.
