【Crypto World】Sei ecosystem's recent performance is quite interesting. According to the latest data from Messari, in Q3 2025, the network's daily active addresses surged by 93.5%, reaching 824,000. The daily transaction volume skyrocketed to 2 million transactions, maintaining an upward trend for five consecutive quarters.
However, the report card should be viewed with nuance. In terms of TVL, there was a 25.3% month-over-month decline, now at $456 million; the stablecoin market cap also shrank by 46.5%, leaving only $148 million. But while one side is declining, the other is taking off — DEX trading volume increased by 75%, with daily trading volume hitting $43 million. The gaming sector is even more explosive, with total transaction counts surpassing 116 million. In simple terms, Sei's growth engine has shifted from existing funds to active trading.
Changes are also happening within the ecosystem. Splashing Stake's launched spSEI liquidity staking product has already overtaken