Sei Network – a prominent Layer 1 blockchain with high processing speed – has just achieved a remarkable milestone in its development journey: over 600,000 daily active wallets, the highest number in the history of this network.
This milestone marks a surge in on-chain activity, as the Sei ecosystem increasingly attracts many projects from the blockchain gaming to DeFi sectors. However, the robust growth of the network is not reflected proportionately in the price of the native SEI token, which has declined by over 30% in May.
Explosion of users and new cash flow in Q2 2025
According to data from analytics platform Flipside, as of January 2025, Sei Network has recorded 17 million new wallet addresses, bringing the total number of active addresses to 26.8 million. In particular, in Q2, the growth rate peaked when more than 330,000 new addresses were created every day.
The number of active wallets daily on Sei Network | Source: FlipsideThis impressive increase has pushed the number of daily active wallets on Sei beyond the 600,000 mark – an important indicator of real engagement within the network.
The influx of new users also brings a significant amount of capital, helping the total value locked (TVL) on Sei reach a peak of 550 million USD in May, before slightly adjusting down to around 471 million USD at the current time.
GameFi – the main growth driver of Sei Network
One of the biggest factors driving the development of Sei is the explosion of the on-chain game segment. With a Layer 1 architecture optimized for speed and scalability, Sei is particularly well-suited for applications that require fast transaction processing such as blockchain games and high-frequency transactions.
On-chain gaming is becoming the main growth driver of Sei Network. According to data from DappRadar, the decentralized applications (DApp) with the highest amount of interaction on Sei are all in the gaming segment. Notable titles such as World of Dypians, Hot Spring, and Archer Hunter have attracted a large community of players, contributing significantly to the network's operations.
"Many games on Sei mean many transactions from independent user wallets. It's as simple as that," the account X Gaming On Sei commented.
SEI price plummets despite ecosystem growth
Despite the rapidly growing ecosystem, the price of the SEI token dropped by over 30% in May. This development has raised concerns within the investor community, especially in the context of the altcoin market facing overall pressure from the resurgence of Bitcoin.
The decline in the SEI is said to reflect the defensive sentiment of investors, as the majority of capital flows are still concentrated in large and more liquid assets.
However, some analysts remain optimistic. Soroush Osivand – CEO of SSE Exchange – pointed out that SEI is forming an inverse head and shoulders pattern on the weekly technical chart, which is a common reversal signal seen in bullish cycles.
Despite achieving significant milestones in terms of user numbers, Sei Network still faces considerable challenges. In the fiercely competitive Layer 1 market, competitors such as Solana, Aptos, and Sui all have strong communities, abundant support funds, and extensive ecosystems.
To maintain its position, Sei needs to continue investing in technical infrastructure, supporting developers, and especially retaining users – a key factor in the context of Web3 users increasingly demanding smooth experiences and real value.
Sei Network is proving to be one of the fastest-growing Layer 1 blockchains in 2025. With over 600,000 active wallets daily and a TVL peaking at over 550 million USD, Sei shows great potential in the GameFi and DeFi sectors. However, the price of SEI tokens has yet to reflect this level of development, indicating a gap between on-chain data and market sentiment.
In the coming time, the effectiveness of implementing the growth strategy and the ability to adapt to the competitive environment will be the decisive factors for the success or failure of Sei Network in the Layer 1 blockchain race.
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Sei Network transforms the ‘golden land’ for on-chain games, but the price of SEI still plummets by 30%.
Sei Network – a prominent Layer 1 blockchain with high processing speed – has just achieved a remarkable milestone in its development journey: over 600,000 daily active wallets, the highest number in the history of this network.
This milestone marks a surge in on-chain activity, as the Sei ecosystem increasingly attracts many projects from the blockchain gaming to DeFi sectors. However, the robust growth of the network is not reflected proportionately in the price of the native SEI token, which has declined by over 30% in May.
Explosion of users and new cash flow in Q2 2025
According to data from analytics platform Flipside, as of January 2025, Sei Network has recorded 17 million new wallet addresses, bringing the total number of active addresses to 26.8 million. In particular, in Q2, the growth rate peaked when more than 330,000 new addresses were created every day.
The influx of new users also brings a significant amount of capital, helping the total value locked (TVL) on Sei reach a peak of 550 million USD in May, before slightly adjusting down to around 471 million USD at the current time.
GameFi – the main growth driver of Sei Network
One of the biggest factors driving the development of Sei is the explosion of the on-chain game segment. With a Layer 1 architecture optimized for speed and scalability, Sei is particularly well-suited for applications that require fast transaction processing such as blockchain games and high-frequency transactions.
On-chain gaming is becoming the main growth driver of Sei Network. According to data from DappRadar, the decentralized applications (DApp) with the highest amount of interaction on Sei are all in the gaming segment. Notable titles such as World of Dypians, Hot Spring, and Archer Hunter have attracted a large community of players, contributing significantly to the network's operations.
"Many games on Sei mean many transactions from independent user wallets. It's as simple as that," the account X Gaming On Sei commented.
SEI price plummets despite ecosystem growth
Despite the rapidly growing ecosystem, the price of the SEI token dropped by over 30% in May. This development has raised concerns within the investor community, especially in the context of the altcoin market facing overall pressure from the resurgence of Bitcoin.
The decline in the SEI is said to reflect the defensive sentiment of investors, as the majority of capital flows are still concentrated in large and more liquid assets.
However, some analysts remain optimistic. Soroush Osivand – CEO of SSE Exchange – pointed out that SEI is forming an inverse head and shoulders pattern on the weekly technical chart, which is a common reversal signal seen in bullish cycles.
Despite achieving significant milestones in terms of user numbers, Sei Network still faces considerable challenges. In the fiercely competitive Layer 1 market, competitors such as Solana, Aptos, and Sui all have strong communities, abundant support funds, and extensive ecosystems.
To maintain its position, Sei needs to continue investing in technical infrastructure, supporting developers, and especially retaining users – a key factor in the context of Web3 users increasingly demanding smooth experiences and real value.
Sei Network is proving to be one of the fastest-growing Layer 1 blockchains in 2025. With over 600,000 active wallets daily and a TVL peaking at over 550 million USD, Sei shows great potential in the GameFi and DeFi sectors. However, the price of SEI tokens has yet to reflect this level of development, indicating a gap between on-chain data and market sentiment.
In the coming time, the effectiveness of implementing the growth strategy and the ability to adapt to the competitive environment will be the decisive factors for the success or failure of Sei Network in the Layer 1 blockchain race.
Annie