SEI Network (SEI) has recently attracted a lot of attention on Crypto Space, with its total value locked (TVL) at an all-time high of over $626 million.
This surge demonstrates the ability of SEI to compete with notable blockchain networks such as Ethereum and Solana, whilst cementing its position in distributed finance (DEFI).
SEI is vertical: TVL Sky Rocket
According to insights from X’s analyst Kyldoops, the SEI Network’s TVL has reached a new ATH.
“The SEI ecosystem is clearly attracting fresh attention as more capital flows and more chain activity is being picked up,” Kyldeops said.
An analysis of SEI Network’s TVL charts at Defillama reveals growth since early 2024, escalating from a modest level to nearly $700 million. Compared to other blockchains, SEI’s TVL growth rate is considered a “rare case.”
“… But at the same time, TVL has increased from $60.8 million a year to $623 million. Compared to other chains, TVL has literally increased by 10-50%.
This meteor rise Continuing on to news tThe HAT SEI Network has been approved by the Japan Financial Services Agency (JFSA) and has opened the door to the world’s most highly regulated cryptocurrency market.
According to Artemis Analytics, the milestone drives daily active addresses to a two-year peak. The synergistic effects of regulatory approval and strengthening activity in the chain have generated substantial momentum and attracted individual and institutional investors.
SEI prices skyrocketed 100% in June. This was driven by US government-supported Stablecoin pilots, growing institutional interest, and an expanding ecosystem. Recently, SEI Labs proposed the SIP-3 to migrate the SEI network to an EVM-only model, removing COSMWASM and native COSMOS support.
However, tokens have fallen by more than 78% since their peak in March 2024, and are currently trading at $0.2649. According to an analysis by X’s Chaifrafba, the $0.2540 price level serves as a key support for the 8-hour chart. If this level is not maintained, the SEI could face a $0.2000 fix.
This situation poses challenges for investors and requires vigilant surveillance amidst market fluctuations. Nevertheless, with its extraordinary TVL growth and regulatory support from Japan, many experts are optimistic about maintaining the upward momentum of SEI recovery in 2025.
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