The Sei Network ($SEI ) has garnered significant attention in the cryptocurrency space recently, with total value locked (TVL) reaching a new all-time high exceeding $626 million.
This increase demonstrates Sei's ability to compete with prominent blockchain networks like Ethereum and Solana while solidifying its position in decentralized finance (DeFi).
$SEI is skyrocketing: total value locked is rising significantly
According to insights from analyst Kyled,,oops on X, the total value locked in the Sei Network has reached a new all-time high.
"With the influx of more capital and increased activity on-chain, it's clear that the SEI ecosystem is attracting new interest," noted Kyle, doops.
Total Value Locked in the Sei Network.
Analysis of the Sei Network's total value locked chart on DeFi,,,Llama reveals growth since early 2024, climbing from modest levels to nearly $700 million. Compared to other blockchains, the growth rate of total value locked for $SEI
"A rare case."
"...but at the same time, total value locked grew from $60.8 million to $623 million in one year. Compared to other chains, total value locked literally grew by 10-50%, with rare cases where growth was even more," shared X user Ronin.
This skyrocketing rise follows news of the Sei Network receiving approval from the Japanese Financial Services Agency (JFSA), opening the door to one of the most regulated cryptocurrency markets in the world.
According to Art,,emis' analysis, this achievement drove daily active addresses to a peak not seen in two years. The synergy between regulatory approval and increased on-chain activity generated significant momentum, attracting both retail and institutional investors.
Daily active addresses for Sei.
SEI's price surged by 100% in June, driven by a government-backed stablecoin experiment, increased institutional interest, and ecosystem expansion. Recently, Sei Labs proposed SIP-3 to transition the Sei Network to an EVM-only model, removing support for Cosm,,,Wasm and native Cos,,mos.
However, the token has declined over 78% from its peak in March 2024 and is currently trading at $0.2649. According to analysis by Chief,,raFba on X, the price level of $0.2540 serves as critical support on the 8-hour chart. If this level fails to hold, SEI could face a correction towards $0.2000.
SEI price volatility.
This situation presents challenges for investors, necessitating vigilant monitoring amidst market volatility. However, with its exceptional growth in total value locked and regulatory support from Japan, many experts remain optimistic about SEI's potential for recovery and sustainable upward momentum in 2025.
#BinanceTurns8 #BreakoutTradingStrategy #TrumpTariffs #AltcoinETFsWatch #DayTradingStrategy