SEI price surges as Wyoming selects Sei Network for WYST stablecoin
Sei Price has increased by more than 13% in the last 24 hours in the midst of news that the stable Wyoming token commission has selected SEI “as a blockchain candidate” for the next state stable.
On June 19, while the best pieces led by Bitcoin (BTC) sought to bounce back after the recent slowdown, sei (BE) has exceeded the 100 best cryptocurrencies by market capitalization. The SEI price jumped more than 13% to reach an intraday summit of $ 0.19, its highest level since June 12.
Why is the SEI price increasing?
The native token of Sei Network seems to have jumped following a key announcement of the Blockchain project team.
Sei posted via X that the stable Wyoming token commission had selected SEI as one of the two candidate blockchains for the State supported by the stableIssuing
Wyoming Wyst is a set of fiat back stables Deployed via Couchezero in July.
Laberzero Labs will be the broadcast partner, with WYST published via the Omnichain Fungible Immobible Standard of the Interoperability Protocol.
The state of Wyoming began to test the Stablecoin to support the US dollar In March, with tests on several blockchains. Apart from SEI, the other candidate blockchains, as indicated on the commission wyst page Are appropriate, arbitrum, avalanche, base, ethereum, polygon, optimism, stellar, solana and self.
The SEI network is a layer 1 blockchain supported by Circle, Delphi Digital, Multicoin Capital and Coinbase, among others.
The bullish feeling around SEI jumped after the Wyoming news, the daily negotiation volume up more than 91% to $ 175 million. The market capitalization of SEI exceeded $ 1 billion. The token reached its summit of $ 1.14 in March 2024.
By data from ParadeThe total locked value is currently $ 1.03 billion, while its market capitalization of stables is $ 213 million.
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