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The percentages and metrics are calculated from its change over a 7-day time frame, unless noted otherwise.
Highlighting some of the biggest announcements from Sei.
💨 What’s happening: Sei network hit an all-time high in TVL at $610.24 million, up 193% on the year on June 27. It also recorded its largest single-day trading volume of $94.27 million on June 24, DefiLlama data shows.
💨 Why it matters: These milestones underscore Sei’s growing prominence as a DeFi and trading hub for onchain activity. The network utilizes trading-centric features, such as its parallelized execution engine to process multiple transactions simultaneously. In turn, it eliminates bottlenecks associated with sequential processing in traditional blockchains. This means it ensures consistent, reliable and near-instantaneous onchain activity.
There’s more than $591 million locked for DeFi purposes such as staking or lending on Sei, through apps like Yei Finance, Takara Lend, DragonSwap and SiloStake. Similarly, Sei’s daily DEX volume milestone demonstrates its ability to facilitate high-frequency trading without compromising efficiency. These metrics underscore Sei’s ability to aggregate liquidity, enable cost-effective trades and provide deep market liquidity pools for traders.
Collectively, the growth in Sei’s TVL and DEX volume highlights its efficiency in supporting scalable DeFi applications. By leveraging its high-speed infrastructure, Sei continues to attract capital and facilitate robust trading activity, solidifying its position as a competitive layer-1 blockchain in the DeFi landscape.
💨 The bigger picture: Traditionally, users and developers pick and choose networks and applications based on the utility, liquidity, accessibility and attention. These reasons, alongside the recent proposal to support EVM compatibility, could be why Sei has seen a surge in user activity.
If these numbers continue on an upward trend, more users and developers may turn to Sei for their DeFi and onchain trading needs. As Sei evolves and continues to be a high-speed blockchain and attracts institutional capital, it can play a crucial role in bringing the world onchain in an abstracted way.
Updates on the latest games, validators, builders and more that are helping Sei expand
Check out the Sei ai/accelathon, a DeFi and AI focused hackathon with up to $1M in prizes, powered by the Sei Development Foundation and others
Citrex Markets released trading of PAXG, tokenized gold by Paxos, to the Sei blockchain
Helium Wars launched its sci-fi battle royale game to Sei mainnet
Webacy is launching an onchain decision and due diligence tool on Sei for real-time fraud detection and wallet scoring
Highlighting the builders, users and ecosystem players within the Sei blockchain.
DragonLand, an NFT rewards game on Sei, user activity metrics rose on the week, according to DappRadar:
Yei Finance deployed YeiSwap, its dual lending platform for users to provide liquidity to earn yield and fees
Takara Lend shared the protocol increased its USDT supply cap to 50M
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.