Sei (SEI) Price Analysis: What is the driving force behind the capital inflow reaching a six-month high and the increasing activity in the ecosystem?

The Sei (SEI) Token has been on a continuous rise recently, with active ecosystem engagement and capital inflow showing impressive performance, attracting market follow. Behind this momentum is Sei's accelerated advancement in technology upgrades and ecosystem construction, combined with multiple factors such as the acceleration of local strategies in the U.S. and the narrative of ETF compliance in finance. However, at this stage, Sei's development heavily relies on the gaming track, and there is a dominant situation in the DeFi field, which still faces challenges in ecosystem diversity and sustainability.

The coin price has nearly doubled in a month, and the strong expansion of the ecosystem cannot hide its single structure.

Recently, the price and ecosystem of SEI have experienced explosive growth. Today (16th) in the Asian early market, the price of SEI has risen to 0.369 USD, with a nearly 30-day increase of 97%, reaching a new high in the past six months, and the total market capitalization once surged to over 2 billion USD. It is important to note that SEI will unlock approximately 55.56 million Tokens today (July 15th) at 20:00, which is 1% of the current circulation, valued at approximately 18 million USD.

At the same time, multiple key data points in the Sei ecosystem have shown explosive growth. According to a recent official announcement from Sei, since the launch of the Sei V2 version a year ago, its on-chain ecosystem activity has significantly increased, with daily trading volume growing by 3600% and TVL increasing by 790%. According to Nansen data, as of July 15, the number of daily active addresses in Sei V2 has surpassed 886,000, growing nearly 74.1% in the past 30 days; the number of daily transactions reached 1.919 million, an increase of about 202.05% over the past three months.

Despite the significant increase in Sei user participation, from the perspective of project distribution, the three major applications on the chain games Nika Labs, Dragon Slither, and World of Dypians contributed over 89% of the active address volume. Meanwhile, World of Dypians, Nika Labs, and the football game EUFT dominated over 85.9% of the transaction count. Its ecological growth highly relies on these leading game projects, lacking ecological diversity. DappRadar data shows that Sei is the top-ranking blockchain in Web3 games in the past month.

In terms of funding, Sei also demonstrates a strong ability to attract capital. According to DefiLlama data, in the past 30 days, Sei's cross-chain bridge net inflow of funds reached 59.84 million USD, ranking third among all public chains, only behind Avalanche and Aptos. In terms of TVL, DeFillama data shows that as of July 15, Sei's total locked value reached 650 million USD, an increase of about 30.72% in 30 days. However, the TVL exhibits a highly concentrated structure, with just Yei Finance alone having a TVL of 366 million USD, accounting for more than half, and there are only 8 projects with a TVL of over 10 million USD. This further indicates that there is a structural imbalance risk within the Sei ecosystem.

From the income situation, the Sei ecosystem shows signs of recovery. Although revenue fell to over $100,000 in March this year, it subsequently rebounded continuously, reaching $813,000 in June, but still far below the peak of $1.27 million in January. Overall, while Sei is currently in an expansion phase, the ecosystem is highly dependent on leading projects, with application types relatively concentrated in the gaming sector. To achieve sustainable growth, it is still necessary to further expand application types and improve user retention rates, including building a richer ecological foundation and accelerating the layout of multi-dimensional application scenarios.

Increase localization layout in the US, gain WLFI on-chain position support

SEI is regarded as a concept coin from the United States, not only because its founding team has a strong American background, but more importantly, it received early funding from top American institutions such as Multicoin Capital, Jump Crypto, Coinbase Ventures, and GSR Ventures. Among them, Jump Crypto, which has recently transformed and made a comeback, has been pointed out as one of the behind-the-scenes drivers of the significant price increase of SEI in the previous round.

With the increasing openness of U.S. cryptocurrency policies, Sei is accelerating its localization efforts. In April of this year, the Sei Foundation announced the establishment of a U.S. nonprofit organization, the Sei Development Foundation, focused on promoting the development and raising awareness of the Sei protocol, indicating that it has truly entered the U.S. market on a legal and physical level. Additionally, the on-chain interaction established between Sei and Trump's cryptocurrency initiative WLFI has provided more market imagination space. Between February and April of this year, WLFI accumulated the purchase of 5.983 million SEI Tokens through USDC multiple times, valued at approximately 1 million USD, and deposited them as collateral in Falcon Finance, managed by Ceffu. Moreover, last month, Sei Network was selected by the Wyoming Stablecoin Committee as a candidate blockchain for WYST, which is a stablecoin supported by fiat currency in the U.S. These developments further deepen the market's focus on Sei's U.S. main narrative.

Stablecoin Ecosystem and Technological Evolution

In terms of the stablecoin ecosystem, Sei Network has also made significant progress. According to DeFiLlama data, as of July 2025, its stablecoin TVL has reached an all-time high, and although it has slightly declined since then, it still maintains around $270 million. A few days ago, Sei also announced the upcoming launch of the USDC native Token and CCTP V2, aiming to bring the world's largest compliant stablecoin and frictionless cross-chain transfers to the high-performance L1 blockchain of Sei. The native USDC has advantages such as compliance, 1:1 dollar exchange, and institutional channels, while CCTP V2 supports efficient liquidity and cross-chain applications between Sei and other chains. It is worth mentioning that Circle itself, as one of Sei's largest institutional investors, holds 6.25 million SEI by the end of 2024, surpassing its investment holdings in tokens like APT and OP.

In terms of technological evolution, at the beginning of May this year, the SIP-3 proposal put forward by Sei Labs received significant attention. The core content is to simplify the original architecture into a pure EVM model, thereby enhancing the developer experience, simplifying infrastructure, and fully utilizing Sei's parallelized EVM performance to support the network's development towards the Giga target. The goal of this upgrade is to achieve ultra-high throughput of processing over 100,000 transactions per second.

The Sei Foundation has launched a software development kit (SDK) aimed at facilitating the creation of an on-chain order book. This toolkit allows developers to build a centralized limit order book (CLOB) system directly on the Sei blockchain without the need for external data systems. This technological advancement is designed to accelerate the development of decentralized exchanges by providing a more efficient and integrated trading infrastructure.

At the same time, Sei Labs is collaborating with Amazon Web Services (AWS). This partnership integrates real-time blockchain data tools, allowing developers to access AWS Lambda and Kinesis services. These tools enable applications to receive Sei block data within milliseconds, supporting various use cases such as trading bots, analytics dashboards, and AI-driven protocols. This integration is expected to enhance the reliability and speed of data access for developers building on the Sei platform.

Sei Network has also launched a new bridging protocol zkBridge, allowing cross-chain transactions between Ethereum, Solana, and Sei. This bridge ensures privacy and reduces costs, positioning Sei as a cross-chain settlement layer. The activation of zkBridge is an important step in enhancing cross-chain transaction interoperability and efficiency.

Market Expansion and Regulatory Endorsement

What is more noteworthy in the market is that the European financial institution Valour has launched ETP products related to SEI, and Canary Capital has also submitted S-1 application documents to the SEC, planning to launch the first SEI-based ETF in the United States. This means that Sei is expected to receive endorsement from traditional capital markets and expand its liquidity.

The user growth rate of Sei Network has accelerated, especially in Asia and Latin America. Incentive programs launched 200,000 new wallets in the last quarter, thereby enhancing network activity. This growth is reflected in the continuous increase in trading volume on decentralized exchanges in these regions and the ongoing emergence of non-fungible tokens (NFTs).

Sei's technical upgrades meet two major industry demands: faster trading infrastructure and reliable data access. The order book toolkit may empower new exchange designs, while integration with AWS provides developers with enterprise-grade data feeds. As cross-chain activities continue to expand across various networks, these advancements are timely and position Sei as a leading player in the evolving field of Decentralized Finance.

The surge in Sei's coin price and the increase in ecosystem activity are the results of multiple factors, including its technological upgrades, localization strategy in the U.S., and regulatory endorsements. Although its ecosystem currently relies heavily on the gaming sector and the TVL structure is relatively concentrated, Sei's efforts in technological innovation, stablecoin ecosystem development, and market expansion have allowed it to occupy a unique position in the Decentralized Finance space. In the future, whether Sei can achieve diversification and sustainable growth of its ecosystem will be key to its development.