Recent insights reveal a significant jump in daily transactions and on-chain activity for Sei’s network, signaling robust user adoption despite the token’s price remaining relatively low. Data from analyst Marc Shawn Brown indicates that September witnessed a 46% increase in daily transactions, surging from approximately 1.5 million to nearly 2.8 million. This uptick underscores expanding user engagement across the blockchain, even as the token price recently dipped to a low of $0.27.
Analyzing the decentralized finance (DeFi) sector, the Sei network is thriving. Fabius DeFi reported astonishing figures for September 25, with decentralized exchanges recording an impressive trading volume of $9.88 billion, net inflows totaling $2.43 billion, and application fees surpassing $32.9 million. Despite these remarkable figures, the token price has languished around $0.29, suggesting a disconnect between the network’s performance and its market valuation.
Fabius DeFi highlighted the contrast between the network’s vigorous fundamentals and stagnant token prices as a significant market development. High trading volumes and increased fees typically indicate sustained user adoption and enhanced protocol revenue, bolstering the foundation for future growth if these trends continue.
On the transaction front, data further solidifies the narrative of increasing blockchain activity. The continued rise in daily transactions points to a wider adoption of various applications, including DeFi protocols and trading platforms. This spike could enhance Sei’s competitiveness among Layer-1 blockchain networks, indicating a positive trajectory for ecosystem development.
Conversely, the market price has not mirrored this growth. Over the past 24 hours, Sei’s token experienced a 7.96% decline, dropping from around $0.285 to approximately $0.27. Despite this downward movement, the trading volume remained steady at about $172 million, suggesting active market participation. The price chart indicates continuous attempts to surpass the $0.28 resistance level, each followed by renewed selling pressure. Analysts point to $0.26 as a critical support level if selling persists further.
Looking forward, if Sei can sustain high trading volumes, maintain significant application fees, and continue to register transaction growth, it could draw additional liquidity and developer interest. This momentum could pave the way for further capital inflows and strengthen the ecosystem in the long term. Yet, the token’s ongoing struggle to maintain levels above $0.29 signals that broader market factors currently overshadow its positive fundamentals. Nonetheless, continued expansion and stable support levels could eventually recalibrate its market valuation as user adoption deepens.
