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SEI Down 78% From March Highs but TVL Blasts Past $626M — $0.3 Incoming - Crypto News Flash
SEI Network has become a focal point of discussion in the digital asset ecosystem. As reported, its Total Value Locked (TVL) is rising sharply even as its token price struggles
After reaching a peak in March 2024, SEI has dropped over 78%, now trading at around $0.2649. Yet, despite this decline, on-chain activity and capital inflow suggest a different story. Currently, there’s growing investor interest and network expansion.
TVL Hits Record High Amid Price Struggles
Previously, we covered that Sei Network surpassed Sui in daily transactions. The protocol recorded and processed 4.6 million transactions in a single day. A new report now shows that Sei Network has recorded a dramatic rise in on-chain activity and capital inflow
According to data from DeFiLlama, SEI’s TVL rose from just $60.8 million to nearly $700 million within a year. That kind of growth is rare in today’s crypto market, where many networks are struggling to maintain even modest gains.
On social media, crypto analysts such as Kyledoops and Ronin have noted how this growth shows the SEI ecosystem is attracting serious interest. Kyledoops highlighted increased capital and user activity as signs of growing attention.
The jump in TVL follows the approval of Sei Network by the Japan Financial Services Agency. Given Japan’s reputation for strict crypto regulations, the approval has added credibility to SEI’s long-term prospects. Artemis Analytics reported that this milestone pushed SEI’s daily active addresses to a two-year high, suggesting more users are engaging with the network.
Meanwhile, CNF reported recently that Sei Network has integrated Anthropic’s Model Context Protocol. This will help the network secure on-chain interaction through Claude, Windsurf, and Cursor
In addition, as highlighted in our previous news brief, MyWebAcy brought real-time risk scoring tools to the Sei Network, enhancing wallet security and supporting smarter on-chain decision-making for users.
Key Support Level in Focus as SEI Price Slides
With SEI now far below its March highs, analysts are closely watching its next move. ChiefraFba, a crypto chartist on X, has pointed to $0.2540 as a critical support level on the 8-hour chart
If the price drops below this zone, the token could slide further to around $0.2000. However, if support holds, SEI could attempt a move toward the $0.30 range.
There is also growing discussion around SIP-3, a proposal to shift Sei Network into a fully EVM-compatible chain. This would mean removing CosmWasm and Cosmos-native support in favor of Ethereum Virtual Machine compatibility, possibly opening the door to more developers and users.
It is worth noting that Sei Network’s expanding use cases, combined with regulatory backing and high TVL, may provide a strong foundation for recovery. This is proving to be the case even with the token price remaining under pressure for now.