SEI continues to show healthy network fundamentals. TVL sits at 467M with stablecoin market cap up 22% on the week, and over 90% of liquidity in USDC, a sign of real capital depth, not just rotation. App revenue, DEX, and perps volume remain steady even through broader market pullbacks. Fees and usage patterns are consistent with real on-chain activity. Built for trading at scale, Sei’s performance layer is quietly proving it can sustain throughput and liquidity without relying on hype cycles.(NekoZ)