Solana’s User Exodus: Daily Active Users Plummet as Sei Overtakes the Blockchain Race

Solana's network activity takes a nosedive—just as rival chain Sei surges to the top. Here's why the tides are turning.

The Great Solana Slowdown

Once a darling of the DeFi crowd, Solana's daily active users are bleeding out. No sugarcoating: the chain's vibrancy is fading faster than a meme coin's hype cycle.

Sei’s Silent Takeover

While Solana stumbles, Sei—the dark horse of Layer 1s—quietly clinches the top spot. No flashy marketing, just relentless scaling. TradFi analysts, take notes: sometimes the boring chains win.

The Cynic’s Corner

Another day, another blockchain flipping the script. Remember when ‘Ethereum killers’ were all the rage? Now they’re just killing their own momentum. Stay nimble, folks—or get rekt.

Stablecoin Use and New Projects Drive Growth

A major reason behind Sei’s rising numbers is the fast uptake of native USDC. According to a data report by EmberCN, an on-chain data analyst on X, over $108 million worth of USDC had been issued on the chain within 10 days of launch. This figure is higher than the amount on popular blockchains like zkSync, Algorand, and Polkadot.

Sei has also drawn in high-profile apps such as Ondo Finance and Backpack. Ondo brings tokenized bond products to crypto users, while Backpack is a growing trading and wallet platform. And these apps have helped make Sei more useful and attractive for real-world asset (RWA) activity and institutional tools.

Sei’s offer a fast speed and low fees which is another reason why developers are actively building on it. The blockchain network is seen as well-suited for payment and finance apps that need fast settlement and low-cost transfers.

Solana on the other hand still has many active projects. However, the recent fall in users shows it is facing some pressure. Sei’s fast growth has caught attention and closed the gap. It shows that newer blockchains can rise if they offer solutions users need. Sei’s strong activity puts it in a better position going forward, though it remains to be seen if this momentum can last.

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