Sei Network (SEI) has drawn significant attention within the cryptocurrency industry in recent times, as its Total Value Locked (TVL) has reached an all-time high of more than $626 million. This impressive increase highlights Sei's ability to compete with major blockchain networks such as Ethereum and Solana, while reinforcing its position in the decentralized finance (DeFi) sector. According to insights shared by analyst Kyledoops on X, Sei Network’s TVL has achieved a new all-time high. A review of Sei Network’s TVL chart on DeFiLlama indicates a steady upward trend since early 2024, starting from relatively low levels and rising to nearly $700 million. Compared to other blockchains, the rate of growth in Sei’s TVL is considered a rare occurrence. This rapid ascent comes after news that Sei Network has received approval from the Japan Financial Services Agency (JFSA), which opens access to one of the most regulated cryptocurrency markets globally. Artemis Analytics reports that this milestone has pushed daily active addresses to a two-year high. The combination of regulatory approval and increased on-chain activity has created strong momentum, attracting both individual and institutional investors. In June, SEI’s price experienced a surge of 100%, fueled by a U.S. government-backed stablecoin pilot, growing interest from institutional players, and the expansion of its ecosystem. Recently, Sei Labs introduced SIP-3, a proposal aimed at transitioning the Sei network to an EVM-only model, which would eliminate support for CosmWasm and native Cosmos features. However, the token has since declined by more than 78% from its peak in March 2024, and it is currently trading at $0.2649. According to an analysis conducted by ChiefraFba on X, the price level of $0.2540 represents a critical support level on the 8-hour chart. If this level fails to hold, SEI could experience a correction toward $0.2000. This situation presents challenges for investors, who must remain attentive to market volatility. Despite these fluctuations, many experts remain optimistic about Sei Network’s potential for recovery and continued growth in 2025, given its strong TVL performance and regulatory backing from Japan.

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