just read through the Messari: State of SEI Q3 2025, and my conviction for @SeiNetwork is now much stronger.

this report basically confirms what i’ve been feeling onchain for months.

usage > optics.

some numbers that really matter:

– 824k daily active addresses, +93.5% QoQ

– ~2m daily tx from real users, +87% QoQ

– gaming alone did 116m tx in one quarter

– dex volume hit $43m/day, new ATH, +75% QoQ

yes, TVL and stablecoins pulled back, but price stayed flat, activity kept climbing, and trading intensity actually expanded.

sei is proving demand before liquidity narratives recycle.

– gaming is the growth engine

– CLOBs are quietly coming back (oxium live, monaco next)

– token unlock pressure is easing

– staking real yield turned positive again

– liquid staking finally diversified beyond silo

– infra is stacking fast: native USDC, CCTP, chainlink streams, wallets, seiscanner

– Giga’s devnet numbers are real

this is what early infra adoption looks like.

i’m still very comfortable holding $SEI here.