Welcome to the Sei Overview. In this edition, we explore Sei’s stablecoin performance in May, yield vault updates, user activity, and new project launches.
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By the Numbers
$SEI token price: $0.0501 (-25.1%)
Market cap: $336.7M (-25.3%)
Sei Total Value Locked (TVL): $57.7M (-10.1%)
Daily EVM transactions: 495.1K (-17.1%)
Daily EVM active addresses: 435.3K (-23.4%)
Block time: 0.44s (+7.3%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: May proved to be one of Sei’s better months in terms of stablecoin development, with stablecoin market cap on the blockchain reaching an all-time high of $330.5 million on May 15. Filtered stablecoin transaction volume also hit $4.9 billion last month, the highest this year.
💨 Why it matters: The two figures measure different things: market cap is the value of stablecoins on Sei at any given moment, and transaction volume is how much of that value actually moves. Both metrics reveal how users are using Sei: either for storing capital or more actively.
While market cap does a good job at capturing how much stablecoin value is on a blockchain at a given moment, it doesn’t indicate real activity. Stablecoins are the settlement asset for most onchain payments, so rising transfer volume points to activity.
A large stablecoin market cap typically indicates that users are parking capital, meaning dollars being used for incentives or earning yield. Meanwhile, an increasingly filtered stablecoin transaction volume balance shows how often dollars are changing hands.
💨 The bigger picture: Stablecoin volume is one of the cleaner measures of whether a network is being used for real economic activity. Unlike volatile tokens, whose trading volume can reflect speculation, a stablecoin holds a fixed value, so its movement often corresponds to actual transactions such as trades or payments.
While Sei is today far below its $73 billion filtered stablecoin transaction volume peak in July 2025, the resurgence of activity is a healthy indicator that users are regaining confidence in its stablecoin rails.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Feather’s vaults on Sei hit a high of $59.8M in deposits, and a record $24.3M in borrowed amounts on June 2. APR for stablecoins on the platform hit 8%.
Sei RWAs saw $151.8M minted and $8.3M burned in May, meaning more of Ondo’s U.S. Dollar Yield assets were created than removed since it was the asset that moved the most throughout the month
What’s the community Sei’ing
Highlighting the builders, users and ecosystem players within the Sei blockchain.
Monaco and Fhenix have set up a collaborative research arm that will explore how homomorphic encryption can be used for confidential trading
Token project Frog has launched a weekly campaign that rewards holders for social posts and engagement
Tokeny.fun released a token launchpad on Sei that features a ticker marketplace and automatic burns
Lock in to the ecosystem
Want to get involved?
Check out the latest jobs at the Sei Development Foundation and Sei Labs
That’s all for this week.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.