Sei Network, a high-speed Layer 1 blockchain, has simply reached a outstanding milestone. The variety of lively wallets on its community has surpassed 600,000, the very best quantity in its historical past.
This development comes as Sei’s ecosystem good points growing consideration from gaming and DeFi tasks. However, the worth of its native token, SEI, dropped greater than 30% in May.
Why Is Sei Network’s Ecosystem Booming in Q2?
According to information from Flipside, Sei Network has attracted 17 million new addresses since January 2025, bringing the full variety of lively addresses to 26.8 million. Q2 has turn out to be Sei’s acceleration part, with each day new handle creation surpassing 330,000.
The surge in new addresses exhibits a powerful inflow of customers joining the Sei ecosystem. As a outcome, Sei’s each day lively pockets rely reached a brand new peak, crossing 600,000.
New customers additionally introduced in recent capital, driving Sei’s complete worth locked (TVL) to a brand new all-time excessive of over $550 million in May earlier than adjusting to $471 million on the time of writing.
Sei Network is named a high-speed blockchain designed to optimize efficiency and scalability. It’s notably appropriate for functions that require quick transactions, corresponding to high-frequency buying and selling and on-chain gaming.
On-chain gaming is now a significant driver of Sei Network’s development. Data from DappRadar exhibits that the most active DApps on Sei are gaming tasks. Titles like World of Dypians, Hot Spring, and Archer Hunter have attracted giant person bases.
“A lot of Sei Games = A lot of Unique Address Transactions. It is as simple as that, ” X deal with Gaming On Sei said.
Despite the ecosystem’s robust improvement, the worth of SEI has didn’t replicate this development. According to BeInCrypto, SEI’s worth dropped greater than 30% in May 2025. This decline has raised considerations amongst traders.
The drop got here amid broader stress on altcoins. Bitcoin dominance increased, and most investor consideration remained targeted on Bitcoin.
Still, some analysts stay optimistic about SEI’s prospects. Soroush Osivand, CEO of SSE Exchange, identified that SEI has shaped an inverse head-and-shoulders sample on the weekly chart. This is a technical sign that might recommend a development reversal from bearish to bullish.
Despite the constructive on-chain information, SEI’s worth decline might have an effect on investor sentiment, particularly amongst these nonetheless on the sidelines. In a fiercely aggressive Layer 1 market — with rivals like Solana, Aptos, and Sui — Sei should proceed to innovate and appeal to main tasks to keep up its place.
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