Sei Network: A Surge in DeFi and Gaming Transactions Drives 68% Growth in TVL to $609 Million

Sei Network’s decentralized finance (DeFi) ecosystem saw dramatic growth in the second quarter of 2025, with total value locked (TVL) surging 68% to reach an all-time high of $609 million. This expansion marks Sei as one of the fastest-growing Layer 1 blockchains, driven primarily by the booming activity in its gaming sector and recent infrastructure upgrades that have attracted a wave of developers and users.
Gaming continues to dominate transaction volume on Sei. Over Q2, the network processed 49.5 million gaming-related transactions—a robust 24% jump from the previous quarter. Leading the charge was Hot Spring, a tycoon-style mobile game, which averaged over 130,000 daily transactions and overtook other popular projects in the ecosystem. Multichain role-playing games and roguelike titles like World of Dypians and Archer Hunter also contributed to rising engagement and daily active addresses, which climbed 36.6% to 426,000 across the network.
This surge in network use has been matched by major milestones in DeFi. With the launch of Sei V2 in May 2024, EVM compatibility opened doors for new dApps and boosted TVL significantly. Lending and borrowing protocols have flourished, with Yei Finance controlling over 60% of Sei’s DeFi market share and growing its own TVL by more than 90%. Takara Lend and trading platforms like Sailor saw rapid increases in market participation and daily trading volume.
Stablecoins and staking have been pivotal to Sei’s momentum as well. Sei’s stablecoin market cap reached $276.8 million, powered by Circle’s USDC and sizable growth in USDT following a key migration. Notably, the network achieved a positive staking yield for the first time, a milestone underscoring its evolving economic model and appeal to both retail and institutional investors.
Looking ahead, Sei Network’s bold upgrade roadmap—including the upcoming Giga upgrade targeting 100,000 transactions per second—sets the stage for even greater scalability and performance. Supported by yield-generating integrations and venture funds dedicated to ecosystem growth, Sei is positioned to remain a top choice for both DeFi innovators and gaming enthusiasts in the expanding Web3 landscape.
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