The Layer-1 blockchain Sei Network has reached a cumulative decentralized exchange volume of $15.9 billion as of October 19, 2026. This figure represents a nearly fourfold increase from the $4 billion milestone recorded in early 2025.
Recent trading activity on the network is highly concentrated. Over the 30 days preceding October 19, the network recorded $278 million in volume, with the exchange Saphyre accounting for $276 million of that total. Other decentralized exchanges on the platform handled approximately $2 million combined.
Saphyre, which evolved from the earlier DragonSwap platform, has processed over $6.6 billion in volume throughout its lifetime. This accounts for more than 40% of the total trading volume ever recorded on the Sei network.
The network's current 24-hour trading volume stands at $6.61 million, marking a 15.41% increase on a weekly basis. Meanwhile, the total value locked in DeFi applications on the blockchain is approximately $31.71 million.
Sei Labs, the developer behind the project, raised nearly $35 million from investors including Coinbase Ventures and Multicoin Capital. The company was founded by Jayendra Jog and Jeff Feng.
