Soaring TVL Solidifies Market Position
According to analyst Kyledoops on platform X, the SEI ecosystem is experiencing a strong influx of capital and growing on-chain activity, helping it stand out among leading blockchain networks such as Ethereum and Solana.
Data from DeFiLlama shows that since early 2024, Sei’s TVL has surged from modest levels to nearly $700 million—a growth rate considered rare in the DeFi sector. X user Ronin noted: “Sei’s TVL jumped from $60.8 million to $623 million in just a year—while most other chains only grew by 10–50%, with few exceptions exceeding that.”
Regulatory Greenlight from Japan Boosts Momentum
This remarkable growth comes shortly after Sei Network received official approval from the Japan Financial Services Agency (JFSA)—a critical milestone granting access to one of the most tightly regulated crypto markets in the world.
According to Artemis Analytics, this development drove daily active addresses to a two-year high. The combination of regulatory endorsement and surging on-chain activity has attracted both retail and institutional investors.
In June, SEI’s price doubled due to a confluence of factors: a pilot program involving a U.S. government-backed stablecoin, growing institutional interest, and a rapidly expanding ecosystem. Additionally, Sei Labs recently proposed SIP-3—a plan to transition the network to an EVM-only architecture, phasing out support for CosmWasm and native Cosmos integration.
Short-Term Pressure, Long-Term Promise
Despite positive developments, SEI’s price has dropped more than 78% from its March 2024 peak, currently trading around $0.2649. According to analyst ChiefraFba on X, the $0.2540 level acts as a crucial support on the 8-hour chart. If this support fails, SEI may retrace toward the $0.2000 mark.
This is a sensitive period for investors, requiring close monitoring amid volatile market conditions. Nonetheless, with its exceptional TVL growth and regulatory backing from Japan, many experts remain optimistic about SEI’s potential for recovery and sustained upward momentum heading into 2025.
