What's Driving SEI Prices as Token Soars 50% in a Week

Sei’s autochthonal token, SEI SEI, has jumped much than 50% successful the past week, beating each different top-100 tokens by marketplace headdress arsenic analysts pointed to a “multifactor rally” down the spike.

“We deliberation SEI conscionable delivered 1 of the cleanest multi-factor rallies we’ve seen this twelvemonth — up 45% intraday connected 4x mean volume. And determination were 3 coagulated drivers down it,” analysts astatine B2BINPAY told CoinDesk successful an email.

“Wyoming named SEI arsenic the colony furniture for its dollar pilot, giving it organization credibility. Then came the v2 airdrop snapshot and a 9% staking APY bump from halfway validators,” they added.

The Wyoming Stable Token Commission past week shortlisted Aptos and Sei for its stablecoin aviator program, giving Sei a 30 constituent people based connected metrics specified arsenic transactions per second, fees and transaction finality.

WYST is Wyoming’s projected state-backed stablecoin, pegged to the U.S. dollar and developed successful collaboration with LayerZero, a cross-chain crypto protocol.

The 50% play rally shows savvy superior flow. On-chain flows into centralized crypto exchanges (CEX) reached implicit $3 cardinal portion perpetual swap unfastened involvement accrued by lone 9% and backing remained dependable — suggesting organic, spot-led buying.

DeFiLlama information shows the full worth locked (TVL) connected Sei topped $540 million, having risen steadily since January, with Sei-based decentralized speech (DEX) volumes crossing $60 cardinal for the archetypal clip connected Wednesday.

The question is whether the superior volition stay. B2BinPay warned that if backing rates ascent supra +0.05% oregon unfastened involvement outpaces spot, it could beryllium a motion of leverage is creeping successful — a constituent wherever bullish bets whitethorn beryllium deemed overextended.

However, with fundamentals aligning and on-chain flows remaining clean, the momentum could easy widen into July, the steadfast concluded.