The SEI token has experienced a significant price surge exceeding 100% month-to-date, driven by key endorsements, institutional interest, and robust network expansion. The token price recently reached approximately $0.30425, accompanied by nearly 10% growth within the last 24 hours.
A major catalyst for this rally stems from the selection of the Sei Network by the state of Wyoming for its pioneering blockchain-based stablecoin pilot program. This government endorsement has substantially elevated SEI’s profile and credibility within the industry.
Further bolstering institutional confidence, Circle, the prominent issuer of the USDC stablecoin, disclosed significant holdings of SEI tokens within its recent IPO filing documents. This revelation has reinforced market perceptions of SEI’s strategic value.
Adding to potential future institutional inflows, Canary Capital has filed for a SEI-based exchange-traded fund (ETF). Approval of this financial product would facilitate broader access for institutional investors.
The Sei Network ecosystem itself is demonstrating considerable momentum. It has surpassed 600,000 active wallets, securing the position as the second-largest EVM-compatible chain. Total Value Locked (TVL) across the network has also climbed to $560.28 million.
Reflecting increased demand, World Liberty Financial acquired $1 million worth of SEI tokens, an investment that subsequently appreciated to $1.8 million, contributing to elevated trading activity.