According to Odaily, Messari has released its Q1 2024 status report for Sei, highlighting several key points. The Total Value Locked (TVL) in USD has seen a quarter-on-quarter increase of 714%, reaching $46 million, a growth rate that significantly surpasses the price increase. The leading DEX in the Sei ecosystem, Astroport, has seen its TVL grow by 468% quarter-on-quarter.
The price of SEI has risen by 37% quarter-on-quarter, despite a 32% decrease in revenue in USD. The high revenue in the fourth quarter of 2023 was due to inscription activities. The quarter-on-quarter growth rates for NFT sales, individual buyers, and individual sellers were 2936%, 2429%, and 2419% respectively, with MRKT leading the growth in the NFT market.
The launch of liquidity staking protocols SiloStake and Kryptonite has resulted in 8.4 million SEI participating in liquidity staking. Sei's open-source Parallel Stack announced in March that it plans to enable developers to launch modular L2 blockchains as a parallel EVM execution layer.