Messari released the Sei Q1 report: TVL increased by 714% month-on-month, and SEI price rose by 37% month-on-month

ChainCatcher message, Messari released the Sei Q1 2024 status report, with the following highlights:

• TVL (in USD) increased by 714% month-over-month, reaching $46 million, significantly outpacing the price increase. The top DEX in the Sei ecosystem, Astroport, saw a TVL increase of 468% month-over-month;

• The price of SEI rose by 37% month-over-month, despite revenue (in USD) declining by 32%. Revenue was particularly high in Q4 2023 due to inscription activities;

• The month-over-month increases in NFT sales, unique buyers, and unique sellers were 2936%, 2429%, and 2419%, respectively. MRKT led the growth in the NFT market;

• The launch of liquid staking protocols SiloStake and Kryptonite allowed for 8.4 million SEI to participate in liquid staking;

• Sei's open-source Parallel Stack was announced in March, aiming to enable developers to launch modular L2 blockchains as a parallel EVM execution layer.