Messari releases Sei Q1 2024 report: Price increased by 37% quarter-on-quarter, TVL grew by 714% quarter-on-quarter

PANews reported on June 4th, according to Messari, the general Layer-1 network Sei (SEI) saw a quarter-on-quarter increase of 714% in TVL (USD) in the first quarter of 2024, reaching $46 million USD, significantly exceeding price growth. The TVL on Sei's largest DEX Astroport increased by 468% quarter-on-quarter. SEI's price rose by 37%, although revenue (in USD) still fell by 32% compared to the previous period. Due to inscription activities, revenues were particularly high in the fourth quarter of 2023. NFT sales volume and independent buyers and sellers grew by respectively 2,936%, 2,429%, and 2,419%. MRKT led the growth of the NFT market. The launch of liquidity staking protocols SiloStake and Kryptonite resulted in eight point four million SEI being staked for liquidity. Sei's open-source Parallel Stack was released in March with plans to allow developers to roll out modular Layer-2 blockchains as parallel EVM execution layers.