Sei ecosystem achieves five consecutive increases: daily active users surge by 93.5%, DEX trading volume skyrockets by 75%, and gaming becomes the new engine

【ChainNews】Sei Network’s latest quarterly report is out. Daily active addresses surged by 93.5% to 824,000, with daily transaction volume exceeding 2 million—marking the fifth consecutive quarter of growth, and this growth curve has become quite solid.

But the story isn’t that simple. TVL decreased by 25.3% quarter-over-quarter to $456 million, and the stablecoin market cap also fell by 46.5% to $148 million. At first glance, it’s a bit awkward, but real growth is happening elsewhere.

DEX trading volume, on the other hand, skyrocketed by 75%, with an average daily transaction value reaching $43 million. The gaming sector is even more impressive—the total transaction volume soared to 116 million, becoming the main driver of ecosystem growth. What does this indicate? Users are migrating from pure liquidity mining to actual application scenarios.

There are also new moves at the ecosystem level. Splashing Stake’s launched spSEI has surpassed Silo to become the largest liquidity staking platform. Meanwhile, Giga’s upgrade development continues, and Sei is clearly aiming to position itself in high-performance DeFi and AI application tracks.

Overall, short-term fluctuations in TVL are not a big deal—what matters is that activity and trading volume are hitting new highs, and the quality of growth is improving. From the explosive growth in trading and gaming, Sei is transitioning from a purely financial attribute to an application ecosystem.