SEI DeFi TVL Smashes Toward Record Highs as Price Rockets 41% in Crypto Frenzy
DeFi's sleeping giant wakes up swinging.
SEI's total value locked (TVL) isn't just climbing—it's scaling the charts like a caffeinated ape. Meanwhile, the token's 41% price surge makes traditional finance's 'bull markets' look like pensioners at a bingo hall.
The rally's secret sauce? Probably the same speculative frenzy that's fueling every crypto pump since 2009—but hey, at least this one's got fundamentals (or so the bagholders insist).
One thing's clear: while Wall Street fiddles with rate cuts, DeFi keeps writing its own rules—with or without permission.
DeFi booms on SEI
The crypto market rebound followed US President Donald Trump’s announcement of a potential ceasefire between Israel and Iran. This move eased geopolitical tensions and sparked risk-on sentiment across global markets. But SEI’s climb wasn’t just about macro tailwinds, as its on-chain fundamentals are flashing green.
As per the data provided by DefiLlama, the total value locked (TVL) on the SEI blockchain soared 26% over the last day to hit $535 million. It is just shy of its all-time high of $535 million. Its TVL stood around $208 million at the beginning of the year, and has now doubled. SEI’s DeFi TVL is now up by 10% over the past month.
The surge is being powered by the rising adoption of Sei-based decentralized applications. Data shows that Yei Finance, a lending protocol modeled after Aave, now dominates the chain with $314 million in assets. Takara Lend, another lending dApp, has attracted $59 million in TVL.
SEI futures open interest soars 84%
Stablecoin growth has been explosive on the SEI chain. The total stablecoin supply on the chain has jumped from just $1.2 million in March to over $225 million today. USDC is commanding more than 83% of the market share.
Protocol revenues are also following suit, as its monthly earnings from SEI-based DeFi protocols have ballooned from $116,000 in March to $562,000 in June. This reflects high user activity and transaction throughput.
Derivatives markets show that open interest in Sei futures has soared by over 84% in the last 24 hours. Institutional interest may soon get another catalyst as Sei Network was recently shortlisted as a candidate blockchain for Wyoming’s WYST stablecoin pilot.
This all comes in as the Fear and Greed index returns to the “Neutral” territory after spending a day in “Fear.”
Bitcoin price dipped below the $100K level just to make a comeback rally, hitting $106k. BTC is trading at an average price of $105,338 as of press time.
Dogwifhat is another altcoin that caught the eye of traders. WIF price zoomed by 25% in the last 24 hours with a trading volume of $634 million. WIF is trading at an average price of $0.85 as of press time.
Major meme tokens like Dogecoin (DOGE) and Pepe prices also took off by 8% and 12% in the same session.
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