The SEI Network, a high-speed layer 1 blockchain, has reached an astonishing milestone. The number of active wallets on that network exceeds the highest number in its history, the highest in its history.
This growth occurs as the SEI ecosystem is attracting attention from game and Defi projects. However, the price of Native Token SEI fell by more than 30% in May.
Why is the SEI network ecosystem booming in the second quarter?
According to Flipside data, the SEI network has collected 17 million new addresses since January 2025, bringing the total number of active addresses to 26.8 million. Q2 is the acceleration phase of SEI, with over 330,000 new address creations each day.
The surge in new addresses indicates a strong influx of users joining the SEI ecosystem. As a result, SEI’s daily active wallet count reached a new peak, exceeding 600,000.
New users also brought in fresh capitals and adjusted the SEI total value (TVL) to a new high of over $550 million in May before being written to $471 million at the time of writing.
SEI networks are known as fast blockchains designed to optimize performance and scalability. It is especially suitable for applications that require high-speed transactions such as high-frequency trading and chain games.
Currently, on-chain gaming is a major factor in the growth of SEI networks. Dappradar’s data shows that the most active Dapps in SEI is the game project. Titles such as World of Dypian, Hot Springs, and Archer Hunter have gathered a large user base.
“Many SEI games = Many unique ad restaurant transactions. It’s just as easy,” X is SEI handle game.
Despite the strong ecosystem development, the prices of SEIs were unable to reflect this growth. According to Beincrypto, SEI prices fell more than 30% in May 2025. This decline has sparked concern among investors.
The drop came under wide pressure from the altcoins. Bitcoin’s advantage has increased, and most investors’ attention remains focused on Bitcoin.
Still, some analysts remain optimistic about the SEI outlook. Soroush Osivand, CEO of SSE Exchange, noted that SEI formed a reverse head and shoulder pattern on its weekly chart. This is a technical signal that suggests a reversal of the trend from bearish to bullish.
Despite positive chain data, the price drop in SEI could still affect investor sentiment, especially amongst the bystanders. In a fiercely competitive layer 1 market with rivals such as Solana, Aptos and Sui, SEI must continue to innovate and attract key projects to maintain its position.
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