Sei Network
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Sei Network in numbers
Sei Network (SEI) ranks #96 by market capitalization, at $498.40M. It belongs to the Networks sector (Layer-1). It has traded since Aug 14, 2023, across 43 markets on 38 exchanges, with $46.86M of volume in the last 24 hours. Its all-time high of $1.12 was reached on Mar 16, 2024; the current price is 95.8% below that peak. Its cycle low of $0.038501 came on Aug 19, 2026.
6.73B SEI are in circulation. 74.9% of the token allocation has been unlocked. The next scheduled unlock is on Nov 15, 2026. 2 team members are listed. Development data lists 15 core developers and 14,917 code commits.
About Sei Network
Sei (SEI) is an integrated, general-purpose Layer-1 network that aims to be the fastest network for exchanging digital assets. Sei launched in August 2023 alongside SEI, its native token that was airdropped to early users. The SEI token serves functions related to (i) transaction fees, (ii) staking, (iii) rewards, and (iv) governance.
Background
In July 2024, Sei v2 beta was released in three distinct phases - in Phase 1, Governance, SEI token holders voted on the proposed upgrade following notifications to validators, in Phase 2, the Alpha Launch, saw validators upgrading their software, transitioning the Sei Pacific-1 Mainnet to "v2." and finally Phase 3 ensured v2 is stable and critical infrastructure, such as RPCs, bridges, indexers, and multisigs, were operational.
In August 2024 the Secret Network's Confidential Computing Layer was integrated with Sei. Through this integration, Secret Network began providing Sei with decentralized confidential computing (DeCC) tooling, documentation, and support. Throughout Q3 and Q4, the team mainly focused on releasing network upgrades, reaching v.6.0.1 by December, following a successful voting of Proposal 90 with 97.77% of the votes in favor.
In January 2025, the Sei Foundation launched Sapien Capital, a $65M venture fund focused on decentralized science (DeSci) startups building on the Sei blockchain. In the same month, Sei saw its token being added on Kraken US Staking Support, among other cryptocurrencies, allowing US clients in select states to participate in bonded staking. Throughout Q1, the team was able to introduce upgrade v.6.0.5 by April 2025 following the approval of Proposal 96: v6.0.5, which passed with 100% of votes in favor.
In May 2025, Canary Capital filed with the SEC to register Sei-based ETF, providing investors with access to staking rewards by allocating a portion of SEI holdings to on-chain staking. Alongside that, the Sei Network announced its Giga Upgrade technical milestone. With the upgrade, the project achieved 50x throughput, 70x faster block production, and 40x execution efficiency, all while preserving the trust model of Proof-of-Stake and offering EVM compatibility.
By June 2025, Circle’s USDC was integrated natively, while the WYST Wyoming state-backed stablecoin pilot chose Sei for blockchain settlement - demonstrating institutional trust and regulatory traction. In July 2025, the Sei Development Foundation and Ondo Finance team announced that USDY, Ondo's tokenized U.S. Treasury Bills product was also brought to Sei Network.
In August 2025, 21Shares filed for SEI ETF with Staking Rewards
In September 2025, Chainlink Data Streams launches on Sei as Preferred Oracle Infrastructure, setting the standard for secure, reliable, and verifiable onchain data for the Sei ecosystem. Additionally, the Sei team has announced the launch of Seiscan in collaboration with the Etherscan team. By the same time, the LayerZero team also announced that PayPal USD (PYUSD) was released through Stargate Hydra as a permissionless token with the PYUSD0 ticker.
In October 2025, Nomura’s Laser Digital launched the tokenized Laser Carry Fund via KAIO on Sei’s infrastructure, emphasizing the protocol’s expanding institutional asset management footprint.
By November, the project saw its token SEI being listed on Binance US, OKX and Robinhood. Furthermore, the Canary Staked SEI ETF began trading under ticker SEIZ.