According to @AltcoinGordon, the SEI token has surged over 50% in the last week, driven by what analysts at B2BINPAY call a "multifactor rally." Key catalysts include Sei's selection for Wyoming's stablecoin pilot program, which provides institutional credibility, a recent v2 airdrop snapshot, and a 9% staking APY increase from core validators. On-chain data suggests the rally is fueled by organic, spot-led buying, with over $3 million in CEX inflows and a Total Value Locked (TVL) on the network exceeding $540 million, according to DeFiLlama. Traders should monitor funding rates and open interest for signs of excessive leverage. Concurrently, Bloomberg analysts James Seyffart and Eric Balchunas have increased their approval odds for most spot crypto ETFs to 90% or higher, citing positive engagement from the SEC. This high probability applies to ETFs for assets including XRP, Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA), signaling a potentially significant market shift.

According to @lookonchain, the SEI token has surged over 50% in one week, driven by what analysts call a "multifactor rally." The key drivers identified include SEI's selection by Wyoming for its stablecoin pilot program, which provides institutional credibility, an upcoming v2 airdrop snapshot, and a 9% increase in staking APY from core validators. On-chain analysis supports the rally's strength, showing over $3 million in spot-led inflows to centralized exchanges and a Total Value Locked (TVL) on the network surpassing $540 million. For traders, a critical indicator to watch is the funding rate; if it climbs above +0.05%, it could signal that excessive leverage is entering the market, potentially making bullish positions overextended.