SEI Rises Like Bread in an Oven: Why Everyone’s Buzzing About This Stablecoin

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Ah, dear readers! Gather ‘round, for I bring tidings of a spirited trader named Michaël van de Poppe, who, with eagle eyes and the wisdom of a sage, has dared to proclaim a remarkable tale of reversal! Behold, SEI has, with all the tenacity of a scrappy street urchin, held fast above the lofty perch of $0.19, now eyeing the heavens at $0.30! 🎢

Wyoming Throws Its Weight Behind SEI in the Great Stablecoin Bake-Off!

In a twist worthy of literary drama, the noble state of Wyoming has selected Sei Network as its champion for the WYST stablecoin trial—scheduled to lift off in the glorious July of 2025. Quite the prestigious occasion, indeed! This pilot shall gallivant upon LayerZero’s splendid cross-chain infrastructure. Truly, Sei has danced its way into the hearts of regulators, leaving Ethereum and Solana feeling quite outside in the cold. How quaint! 🤭

As if on cue, this announcement was met with a jubilant 6% price spike on June 19, sending investors into fits of delight as they envisioned SEI as a beacon of institutional wisdom! 🍥

Technical Breakout: SEI’s Symphony of Bullish Flows!

And lo! SEI has erupted from a descending wedge, a pattern that sings melodies of more than 40% upside—how divine! Open interest has surged with the energy of a thousand caffeinated roosters, leaping 21.9% to a staggering $131.96 million. And the trading volume? Oh dear readers, it has spiked a staggering 90.9% to $343.52 million, as if the trading floor had turned into a carnival! 🎪

Short liquidations—oh the sight to behold—tallied at $284,000, like kindling feeding a roaring fire! Data from Binance and OKX suggests bulls are jubilantly strutting about, their long/short ratios standing tall and proud.

As for the momentum indicators? They seem to be waving a cheerful flag, with an RSI of 58.13! No signs of over-exuberance yet, while the MACD histogram hums along to an uplifting beat. 🎶

On-Chain Growth: The Gift That Keeps on Giving

But wait, there’s more! Beyond the glitter of technicals and newfound partnerships, Sei’s network is rapidly blossoming, much like weeds in a neglected garden. Daily active addresses have reached a thriving 616,000—a hearty 78% rise quarter-over-quarter, with 1.51 million daily transactions to boot! 🌱

And let us not forget the “Sei Giga” initiative, aiming to sprinkle some AI magic onto payments, placing SEI right at the intersection of blockchain and AI—talk about riding a trendy wave!

Despite the tempestuous nature of broader market shenanigans, Sei stands stoutly with $1.03 billion in value locked—a testament to its resilience amid chaos. Portrayed like a resilient hero in a Gorky tale, it appears poised for glorious further gains—should it hold steadfast above $0.19 and aspire toward the lofty $0.30 resistance! ⚔️

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2025-06-20 15:34