SEI Network TVL Jumps 74% in Q1 2025 as Price Eyes $0.30–$0.70 Range

By: the market periodical|2025/05/14 00:30:07
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Key Insights:Sei TVL hit $363.1M in Q1 2025, led by Yei Finance and Stargate’s rapid growth.24H perpetuals volume reached $167.27M, ranking Sei 9th globally.SEI price climbed 71% from ATL and is eyeing the $0.30–$0.70 resistance zone.The introduction of new protocols in Q1 2025 fueled ecosystem growth and pushed total value locked (TVL) on the Sei Network to $363.1M. With trading activity growing and the price increasing by 71%, Sei Network has entered the top 10 for perpetuals volume, indicating strong momentum in both decentralized and centralized markets.$363M TVL Milestone Backed by New Protocols and Ecosystem GrowthAccording to Messari, Sei’s TVL rose 73.7% quarter-over-quarter, reaching $363.1 million. The growth was supported by the launch of protocols such as Avalon Labs and Takara Lend, both introduced in the first quarter.Sei`s TVL broken down by DeFi protocol | Source – MessariYei Finance led all platforms with $192.1 million in TVL, marking a 62.6% increase from the previous quarter. Stargate Finance came in third with $40.1 million, a rise of 159.9%.Sailor held $43.3 million, Avalon Labs $29.3 million, Jellyverse $16 million, DragonSwap $15.9 million, and Takara Lend $15 million. Together, these platforms accounted for the bulk of Sei’s ecosystem.Compared to other Layer 1s, Sei crypto performance is exceptional. Messari noted that its nearest competitor in DeFi TVL, zkLink, holds only $62 million—making Sei’s TVL over five times greater.Excluding staking and yield aggregators, this data offers a more accurate view of Sei’s protocol-level growth.DEX Volume and Trading Activity are Rapidly IncreasingSei’s decentralized exchange trading growth has been on par with its DeFi growth. According to DefiLlama reports, Sei’s monthly DEX volume surpassed $600 million in April, a significant increase from the $400 million recorded in March.With increased trading volumes on Sei’s DEXes, the total value locked in its ecosystem has also increased.SEI TVL | Source | DefiLlamaIn the last 24 hours, Sei’s constant trading volume was $167.27 million. Its ranking as the ninth-largest perpetuals platform is only behind chains that have been in the game for longer, such as Avalanche and dYdX. Exchanges like Citrex Markets and 0xTeaRex are important to this growth.Source | XAccording to DefiLlama, Sei’s 7-day trading volume grew by 52.22% to $770.67 million. The token has gained 15.41% over the last 24 hours and increased by 4.51% in the last month.These stable volumes of trade come at a time when the industry is more volatile, with some rival chains experiencing greater declines.Sei is becoming a leading Layer 1 network in the industry rankings. The trading volume of Sei is simply surpassing Avalanche and outperforming chains such as ZKsync, Aptos, and Sui. Increased participation is observed among retail traders as well as institutional investors.SEI Price Breakout Reclaims Support and Approaches Resistance ZoneOver the last month, SEI has seen a significant increase in price. More than 71% rise from its all-time low, SEI broke $0.1874 and climbed to $0.2520 as per the time of writing. The breakout that is witnessed here is similar to a “break and flip” and this indicates that a value increase is possible.Source | XTrader Michaël van de Poppe commented, “The next target is $0.30, a minor pullback to allow new investors to come in and continue upward movement towards the $0.50 – $0.70 area”. His position is in line with the current bullish trend as depicted on the technical chart of SEI.Chart resistance lies around $0.2917. A breakout through that price, with substantial trading behind it, could open the path for the next price target range. The RSI is increasing, showing increasing buying pressure, and there is a lack of overboughtness.U.S.-Based Blockchain with Active User Base and Developer GrowthSei is positioning itself as a leading U.S.-based Layer 1 platform. Its infrastructure is optimized for high-frequency trading, making it attractive to developers building order books and prediction markets.Unlike some chains that rely on hype or airdrops, Sei’s growth appears organic. Its rise in TVL and trading volume occurred without major token releases or listings.With its architecture tailored for institutional-grade applications, Sei sets itself apart from competitors like Solana, Base, and Arbitrum. Its developer and user growth continues to reinforce its place in the Layer 1 ecosystem.DisclaimerIn this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.godfrey mwirigiThe post SEI Network TVL Jumps 74% in Q1 2025 as Price Eyes $0.30–$0.70 Range appeared first on The Market Periodical.

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Before using Musk's "Western WeChat" X Chat, you need to understand these three questions

The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.


There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."


Question One: Is this encryption the same as Signal's encryption?


No. The difference lies in where the keys are stored.


In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.


X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.


This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.


The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.


The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.


After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."


From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.


In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.



As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."


Issue 2: Does Grok know what you're messaging in private?


Not continuous monitoring, but a clear access point.


For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.


This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.


There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."


Issue 3: Why is there no Android version?


X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.


In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.



WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.


X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.


These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.


Elon Musk's "Super App"


This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.



X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.


Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.


The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.


X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.


The help page sentence has never been just technical instructions.


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