Sei Network Surpasses Ethereum With 609,400 Daily Active Addresses

Sei Network has achieved a significant milestone by surpassing Ethereum in on-chain activity. On June 25, Sei recorded 609,400 daily active addresses, outpacing Ethereum's 593,600 and other competitors such as Sui, TON, and Avalanche. This development was highlighted by a community member and shared by Artemis, marking a pivotal moment for the growing Layer 1 network.

Many in the industry had anticipated that Ethereum would maintain its lead in active users for the foreseeable future. However, Sei's rapid ascent suggests a shift in the landscape. A tweet that sparked widespread attention read: “SEI flipped ETH in active addresses along SUI. Sei has 609k active addresses, which is higher than TON & even Avax. It’s just the beginning of SEI summer.”

While the long-term viability of the “SEI Summer” narrative remains uncertain, Sei's current on-chain activity is undeniably robust. Daily usage is a critical indicator of real adoption, and surpassing Ethereum in this metric is both symbolic and attention-grabbing. This surge in activity has also translated into a notable price increase for SEI. The SEI/USD 4-hour chart shows that SEI broke above its 200-day moving average at $0.2678, a significant technical resistance level, and is now trading at $0.2861 after a 4.26% daily jump. The Relative Strength Index (RSI) stands at 61, indicating bullish momentum without being overbought, suggesting further potential for price appreciation.

The SEI price experienced a sharp breakout above $0.30 earlier this week before retreating, but support held near the 200-day moving average. The quick rebound and continued higher lows indicate growing confidence among bulls, bolstered by strong user activity. Volume has also increased significantly during this rally, confirming that the recent breakout is not a fluke. If SEI can reclaim $0.30 and maintain it, the next short-term target is around $0.34–$0.36, with the potential to revisit this month’s local highs.

If Sei’s surge in active addresses continues to drive broader adoption and ecosystem growth, the bullish outlook strengthens. Technically, holding above $0.267 and pushing back toward $0.30 would signal buyer control. A clean breakout above $0.30 could open the door to $0.36, and potentially challenge $0.40 over the coming weeks. Conversely, if SEI fails to hold the 200-day moving average and drops below $0.26, the rally may cool off and test the $0.23–$0.24 zone for support.

Despite the brief nature of Sei's lead in daily usage, the achievement is noteworthy. With the chart and momentum on its side, the short-term outlook for SEI remains bullish. If this truly marks the beginning of “SEI Summer,” the next leg up might be just getting started.