SEI Soars 15.6% as Wyoming Stablecoin Pilot Gains Momentum
Wyoming's stablecoin experiment sends SEI flying—because nothing pumps crypto like regulatory tailwinds.
The Cowboy State Cashes In
While Wall Street plays catch-up, Wyoming's blockchain-friendly policies are already minting winners. SEI's double-digit surge proves crypto thrives where regulators get out of the way.
Stablecoins: The New Frontier
This isn't your grandpa's monetary policy. The pilot program could rewrite the rulebook for dollar-pegged assets—assuming the suits in D.C. don't kill the party first.
Another day, another crypto victory lap. Just don't look at the SEC's incoming lawsuit calendar.
Trading volumes surge after Wyoming milestone
After the news of the network’s selection broke, the token’s price spiked more than 10% over the course of the day, accompanied by a 91% jump in trading volume, which reached $175 million. The market capitalization for SEI ROSE past the $1 billion mark.
Chart data from CoinGecko shows a steady build-up in price through the early hours of yesterday, with a marked breakout just after 09:00 UTC as the Wyoming selection news began circulating. By midday, SEI had surged past $0.215 before settling slightly lower, still up significantly on the day.
SEI remains well below its all-time high of $1.14 set in March 2024, but the recent upward price action suggests bulls are taking control of the market. The token’s rebound follows months of price suppression, which saw SEI drop to $0.17 by the end of Q1 2025.
According to a March 26 report by Bloomberg, Wyoming could launch its own fiat-backed cryptocurrency as early as July. If the plan materializes, it will become the first US state to issue a fully reserved stable token.
Governor Mark Gordon confirmed the timeline during remarks at the DC Blockchain Summit, stating, “I don’t think there’s any banks that have been really eager, right? To jump in.”
He recalled a conversation with JPMorgan CEO Jamie Dimon, saying, “If you’re gonna do something, you should really do it in Wyoming, because we have a framework to do it.”
US Treasuries, cash, and repurchase agreements will fully back the proposed Wyoming Stable Token (WYST). State law mandates a minimum capitalization of 102%.
Sei’s DeFi ecosystem spells maturation
According to DeFiLlama, total value locked (TVL) on the network now exceeds $1.07 billion, with stablecoin market cap reaching $217.58 million. The first quarter of 2025 saw TVL in USD terms grow 73.7% to $363.1 million, while TVL denominated in SEI jumped a staggering 299% to 2.11 billion SEI.
Its DeFi diversity score, defined by the number of protocols comprising 90% of total TVL, rose from 4 to 6 in Q1 2025, indicating that capital is spreading across more applications rather than being concentrated in a few dominant platforms.
Average daily decentralized exchange (DEX) volume declined 18% quarter-on-quarter to $16.1 million but held steady relative to elevated levels seen in late 2024. Sailor is the leading DEX by volume, gaining market share from competitors like DragonSwap, Uniswap, and Jellyverse.
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