The cryptocurrency market has been fairly calm recently compared to more volatile times, but a currency stood out this week: BE. While Bitcoin He recorded slight profits, sei took a big step of more than 13% and reached a maximum of $ 0.19. The trigger? A high -level announcement of the American state of Wyoming.
Wyoming chooses Sei as a stablecoin candidate
The American state of Wyoming announced that the Crypto Red SEI has been selected as a candidate for the WYST project. This is the first stable American cryptocurrency published by a state and must work on a specific network. This motto, supported by real dollars, is expected to enter service in July.
The project will be launched via Layerzero, a protocol that connects cryptocurrency networks. Lowerzero will also facilitate the emission of the currency.
In addition to SEI, other blockchains in Liza are Ethereum, Solana, Polygon and Arbitrum. Despite this, the choice seems to opt for SEI, given its increase in the volume of operations and market capitalization.
What exactly is the SEI network?
Sei is a bed blockchain. It means it has its own network, like Ethereum or Solana. What makes SEI special is the emphasis on speed and scalability. The network is designed to carry out transactions at Lightning Speed, in particular trade. This makes it popular among the developers who create decentralized bags or other financial applications.
The project is supported by big names such as Circle, Multicoin Capital, Coinbase and Delphi Digital. Since its launch, SEI has become an important player in relatively short time. According to To release Sei now has more than a billion dollars in blocked assets (Total blocked value) on your network.
Technical advance and market optimism
In addition to the new fundamental, there are also good news on the technical front for SEI investors. The price of the action came out of a descending channel and showed an upward crossing for the first time in 70 days, a sign which often leads to a change of trend. An analyst ccn Wait the price of the action to continue to increase up to $ 0.25 if the pulse continues.
Although SEI’s rebound is impressive, the question remains whether this upward trend will last. Wyoming selection is a good step towards adoption, but it is only when the WYST project really starts and starts to be used that you can keep your promises. Until then, the market will remain alert and possibly agile.
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