The price of Sei coin has doubled in a month, and with the outbreak of the ecosystem, influx of funds, and constant rumors of ETFs, it is telling a new story. In the past 30 days, SEI prices have skyrocketed by nearly 97%, reaching a six-month high, TVL has exceeded 650 million US dollars, and daily active addresses are close to 900000. But behind this round of market trend is not only the on chain heat brought by games, but also the multi line resonance of technological upgrades, localization strategies, and compliance narratives. From on chain data, the growth rate of the Sei ecosystem is astonishing, with transaction volume soaring threefold within three months and a net inflow of nearly $60 million in cross chain bridge funds. However, it should also be noted that on chain applications are highly concentrated in top games such as Nika Labs, while the DeFi sector is almost dominated by Yei Finance alone, and the ecological diversity still needs to be strengthened. In terms of US strategy, Sei has taken frequent actions: establishing a development foundation, integrating with the Trump concept project WLFI, partnering with Circle to launch native USDC and CCTP V2, and even being selected as a candidate chain for the Wyoming state stablecoin. Institutional support cannot be ignored, as Circle once held 6.25 million SEIs, making it one of its largest layouts on the Layer 1 track. On a technical level, Sei plans to evolve towards parallelized EVM with a target TPS of 100000 transactions. There are also highlights in the exploration of compliant finance, with Valour launching SEI ETP and Canary submitting an SEI ETF application to the SEC, marking its acceleration from cryptocurrency native assets to traditional capital markets. Although the ecological structure still needs to be optimized, Sei is using a combination of "technology+compliance+localization" to compete for the imagination space of the next high-performance public chain. The key to determining how far it can go next is how to break free from the "GameFi dependency".