Sei Skyrockets 81% Despite Volatile Market: Here's Why
Sei (SEI) is currently the best-performing cryptocurrency among the top 100 projects by market cap in the weekly charts. The asset has rallied 16.8% in the 24-hour charts, 81.5% in the seven-day charts, 49.9% in the 14-day charts, and 38.1% over the previous month. Despite the incredible rally recently, the cryptocurrency is down by 17.1% since June 2024. Source: CoinGecko Why Is Sei Topping The Charts? Source: BitCoinist SEI’s incredible rally comes after the Wyoming Stable Token Commission chose the network as a candidate blockchain for the state’s WYST stablecoin. WYST is the first fiat-backed stablecoin issued by an American state. The move has caused a substantial rise in investor confidence. Stablecoins are in the spotlight in the US cryptocurrency space after the GENIUS Act went past the US Senate. The legislation will now go to the House before being presented to President Trump. SEI’s rally comes amid a larger stablecoin boom. Sei Network has been selected by ...