- Sei DeFi protocols have surpassed $600 million in TVL for the first time.
- Sei commands a third of the Web3 gaming market.
- The SEI token has been trading up 47% at $0.27 for the past 30 days.
Sei (SEI) may be less than two years old, but it’s quickly emerging as one of the top-performing blockchain networks—thanks to a booming DeFi ecosystem, rising dominance in Web3 gaming, a 70% jump in unique active wallets, and a major nod from the state of Wyoming, which has shortlisted Sei for its state-backed stablecoin project.
Sei Climbs
One of Web3’s newest Layer-1 blockchains, Sei (SEI), is making some big moves this year, and its successes appear to be garnering favor from investors who have locked up $603.5 million in the network’s decentralized finance (DeFi) protocols, according to DeFi Llama data.
Throughout June, Sei relished a wave of bullish optimism thanks to several key developments. This includes its incredible efforts in the Web3 gaming space, in which it occupies a 34% market share, attracting millions of new users.
It follows yesterday’s news that Web3 gaming activity caused Sei to hit an all-time high of 1.6 million daily transactions.
Sei has also seen a gigantic uptick in wallet activity. It now has 8.94 million unique active wallets (UAW), ranking it second behind Coinbase’s Base wallet.
Over the past 30 days, the number of UAWs has jumped by over 72%, an increase of roughly 2.5 million.
Furthermore, the network has made it to the final round of Wyoming’s state-backed stablecoin project, in which it may be selected to be the official network for the first U.S. state-issued stablecoin.
Top Performers
Lending platform Yei Finance is the most dominant on Sei with $365.12 million locked up, representing over half of all the network’s TVL. Yei Finance began the year with around $180 million in TVL, which it has since doubled.
Decentralized exchange (DEX) Sailor is the second-largest TVL destination on Sei with $82.36 million. Third, another lending platform, Takara Lend, has a loan amount of $72.o1 million.
The SEI token has also seen some solid gains as a result of all this bullish action, climbing by roughly 48% in value to $0.27. That said, SEI is yet to retake its 2025 high of $0.47, which it held in January.
