Sei’s native token, SEI, has surged over 50% in the last week, outpacing all other top-100 tokens by market cap. Analysts attribute this dramatic rise to a “multifactor rally,” marking SEI as a standout performer in the volatile crypto market as of late June 2025.
A Triple-Threat Rally
The analysts at B2BINPAY, in a note to CoinDesk, unraveled the factors fueling SEI’s meteoric climb. They described it as “one of the cleanest multi-factor rallies we’ve seen this year,” noting an impressive 45% intraday jump accompanied by trading volumes that quadrupled the average. What’s driving this surge? Three pivotal developments. First, the state of Wyoming has designated SEI as the settlement layer for its dollar pilot, lending the token substantial institutional clout. This follows a pattern of institutional adoption, which we detailed in Standard Chartered Sees New Growth Frontiers in Non-Stablecoin Tokenization. Then, a V2 airdrop snapshot turned heads, followed by a 9% increase in staking APY from core validators—further sweetening the deal for investors.
Wyoming’s Stable Token Commission recently shortlisted Aptos and SEI for its stablecoin pilot program, elevating Sei’s profile with a 30-point score based on criteria like transactions per second, fees, and transaction finality. This endorsement positions Sei at the forefront of the burgeoning stablecoin landscape, with Wyoming’s WYST project—a state-backed stablecoin pegged to the U.S. dollar—poised to benefit from Sei’s capabilities. For a deeper dive into the regulatory implications, see Treasury Secretary Bessent Says Stablecoins Can Bolster US Dollar ‘Supremacy’.
On-Chain Dynamics and Market Reactions
The capital inflow into SEI has been nothing short of savvy. On-chain data indicates that flows into centralized crypto exchanges (CEX) surpassed $3 million, while perpetual swap open interest ticked up by a modest 9%, with funding rates holding steady. This suggests a largely organic, spot-led buying spree rather than speculative leverage-driven frenzy.
Further bolstering confidence, data from DeFiLlama shows a robust increase in the total value locked (TVL) on Sei, which has topped $540 million. This ascent, steady since January, reflects growing investor trust, with Sei-based decentralized exchange (DEX) volumes hitting a milestone of $60 million for the first time just this past Wednesday.
Looking Ahead: Opportunities and Cautions
The question looming on the horizon is whether this capital influx will prove sticky. B2BINPAY offers a note of caution: if funding rates climb above +0.05% or if open interest starts to outpace spot buying, it could signal the onset of leverage—potentially overextending bullish bets. Yet, with fundamentals seemingly well-aligned and on-chain flows maintaining a clean trajectory, the momentum could easily persist into July.
This rally underscores the growing complexity and sophistication of the cryptocurrency market, where a confluence of institutional endorsements, strategic updates, and robust on-chain activity can propel tokens to new heights. However, as always in the crypto world, the landscape is fraught with unpredictability, raising questions about the sustainability of such rallies.
As the crypto community watches closely, the coming weeks may reveal whether SEI can maintain its bullish momentum or if market dynamics will shift once again. For now, though, SEI’s performance stands as a testament to the dynamic forces shaping the digital asset landscape in 2025.
Source
This article is based on: What’s Driving SEI Prices as Token Soars 50% in a Week
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
