Sei Network 2025 Ecosystem Development Analysis
TL;DR
Sei Network did indeed achieve significant ecosystem growth in 2025, with daily active users increasing from 312,000 in Q1 to 824,000 in Q3 (+164%), and daily transaction volume increasing by 213% to 2 million transactions. At the institutional level, traditional financial and technology giants such as BlackRock, Circle, and Xiaomi were deeply involved through RWA products, native USDC, and pre-installation in wallets. However, the specific figure for "15.77% increase in stablecoins" could not be found in the available data. The overall stablecoin market capitalization of the network showed a downward trend after reaching its Q1 peak in 2025, but the annualized P2P stablecoin transaction volume increased by 157%.
Core indicators for ecological growth by 2025
Explosive growth in users and activity
Sei Network achieved record highs in several key metrics in 2025 .
| index | Q1 2025 | Q3 2025 | growth rate | Data source |
|---|---|---|---|---|
| Daily active addresses | 312,000 | 824,000 | +164% | Messari Q3 Report |
| Average daily trading volume | 639,800 | 2 million | +213% | Messari Q3 Report |
| Gaming Daily Active Users | 312,000 | 805,000 | +158% | Messari Q3 Report |
| Gaming Quarterly Transactions | - | 116 million | +137.8% QoQ | Messari Q3 Report |
From February to August, daily active users increased fourfold, from 200,000 to over 800,000, with an average daily transaction volume of 5.5 million. The x.com network processed billions of transactions throughout the year, serving 80 million wallets, and ranked among the top 10 public blockchains globally in multiple metrics.
TVL and the Evolution of the DeFi Ecosystem
| period | Total TVL | Month-on-month change | Main Agreement |
|---|---|---|---|
| Q1 End of 2025 | $363.1M | +73.7% | Yei Finance ($192.1M, 53.2%) |
| Q2 2025 peak | $688.4M | +89.6% | Arrive at ATH on July 18 |
| Q3 end of 2025 | $455.6M | -25.2% | Yei Finance ($213.4M, 46.8%) + Takara Lend ($105.8M, 23.2%) |
After strong growth in Q1, TVL reached an all-time high of $688.4M in July, subsequently entering a period of adjustment. As of early January 2026, TVL on Defillama stabilized at $188.96M (+2.94% 24h), with a stablecoin market capitalization of $100.46M (+5.58% 7d). The top four protocols account for 90% of the TVL share, demonstrating a centralized yet efficient DeFi ecosystem structure.
Institutional entry and strategic cooperation
Traditional financial giants' layout
BlackRock Asset Management Products On-Chain : Through the KAIO infrastructure, the tokenized shares of the BlackRock ICS USD Liquidity Fund have been listed on Sei, marking the world's largest asset management company's recognition of Sei's high-performance infrastructure. Additionally, the Brevan Howard Master Fund and Hamilton Lane SCOPE Private Credit Fund (AUM $11.22M, launching on October 15, 2025) have also been deployed via KAIO.
Circle's native USDC integration : On July 11, 2025, Circle launched its native USDC and the cross-chain transfer protocol CCTP V2 on Sei, replacing the USDC previously issued by Noble. This provides better composability for DeFi, gaming, and payment applications, as well as direct access to Circle Mint.
Other institutional-level deployments :
- Apollo and Nomura Laser Digital : Deploying Tokenized Fund Products via KAIO
- Wyoming WYST : On July 17, 2025, LayerZero, a state-backed stablecoin pilot program, was launched on LayerZero.
- Crypto.com : Provides secure managed services for institutions.
- Chainlink : Used as an oracle by the Monaco transaction protocol.
Technology and exchange cooperation
Xiaomi Strategic Partnership : Announced in December 2025, Sei Wallet will be pre-installed on Xiaomi smartphones, reaching 679 million MIUI users. MiPay integration will cover over 20,000 merchants, with an expected official launch in early 2026. This is part of a $5 million global mobile innovation initiative.
Listed on major exchanges :
| Exchange | Launch time | Trading pairs/products |
|---|---|---|
| Binance | 2025-01-16 | SEI/JPY spot |
| Bybit | 2025-07-31 | SEI/USDC Perpetual Contract |
| Robinhood | 2025-10-30 | SEI spot trading |
| OKX | 2025-11-14 | Multiple trading pairs |
ETF Applications : Canary Capital submitted its application for a Staked SEI ETF on December 12, 2025. CoinShares launched its Staked SEI ETP product, demonstrating institutional interest in the SEI staking ecosystem .
Stablecoin ecosystem performance analysis
The 15.77% growth data confirms this.
After comprehensive research, the specific figure of "15.77% increase in stablecoins" could not be found in Sei Network's 2025 data . Available data shows the following actual situation:
Overall stablecoin market capitalization changes :
| period | Market capitalization | change |
|---|---|---|
| Q1 End of 2025 | $178M | ATH |
| Q3 end of 2025 | $148.1M | -46.5% from Q2 |
| 2026-01-02 | $100.46M | +5.58% (7 days) |
Alternative growth indicators :
- P2P stablecoin transaction volume : Annual growth +157% x.com
- Stablecoin settlement volume : Over $10 billion in payments processed throughout the year.
- Recent trend : 7-day increase of +5.58%, stable at $100.46M in 24 hours.
fastUSD performance
fastUSD, Sei's native yield-generating stablecoin, is fully backed by Elixir's deUSD and uses the Redstone oracle to ensure pricing security. As of January 2026, the total supply is approximately 20 million coins. Key use cases include:
- Takara Lend : Q1 $15 million TVL backed by collateral assets
- DragonSwap : Stable pool liquidity exceeds $6 million (October 2024 data)
- Staking Yields : Up to 791% APY (end of 2025) through the Stable Pool
However, the 2025 supply growth data for fastUSD is unavailable due to on-chain RPC limitations, making it impossible to verify the specific growth percentage.
Technology Upgrades and Future Prospects
Key metrics for Giga upgrades
The Giga white paper, released on May 19, 2025, showcases Sei's next-generation architecture, aiming to achieve: sei
- Throughput : 5 Gigagas/s (200,000 TPS)
- Finality : Less than 400ms
- Technology : Autobahn multi-proposer consensus, asynchronous execution, new EVM client
- Schedule : Testnet launch in December 2025, mainnet planned for Q1 2026.
Other upgrades scheduled for 2025 include: SeiDB storage optimization (node performance +60%, October), parallel EVM optimization (gas fee -22%, December), and EIP-6963 wallet support (July).
in conclusion
Sei Network did indeed experience significant ecosystem growth in 2025, with user activity and transaction volume increasing by 2-3 times, daily active users exceeding 800,000, and ranking among the top ten public chains globally. At the institutional level, traditional giants such as BlackRock, Circle, and Xiaomi have deeply participated through RWA, native stablecoins, and mobile integration, demonstrating Sei's unique value in connecting TradeFi and DeFi.
However, the specific figure of "15.77% increase in stablecoins" has not been verified. In reality, the overall market capitalization of stablecoins on the Sei network underwent a structural adjustment after reaching its Q1 peak in 2025, but P2P transaction volume saw an annual growth of 157% and has recently shown signs of a steady recovery. fastUSD, as a native yield-generating stablecoin, continues to integrate into the DeFi ecosystem, but detailed growth data for 2025 is lacking.
Overall, Sei laid a solid foundation for the launch of the Giga mainnet in 2026 through technological upgrades, expansion of the gaming and DeFi ecosystem, and institutional collaborations in 2025. The narratives of "ecosystem explosion" and "institutional entry" are fully supported by data.