SEI is getting attention again, and the recent price action is giving traders a reason to look twice.

SEI has climbed roughly 39% over the past week, moving from around $0.0455 on September 18 to about $0.0634 on September 25. That is a noticeable change after a much quieter period.

But this may be about more than price.

Sei is a Layer 1 blockchain focused on high-performance applications. Its ecosystem now spans DeFi, infrastructure, gaming and other blockchain applications, giving the network a broader foundation than simply trading around the SEI token.

The ecosystem has also been expanding.

A recent SEC filing for a proposed SEI investment product stated that Sei supported approximately 124 dApps as of August 2026. It also highlighted developments around lending, real-world assets, stablecoins and market-data infrastructure on the network.

Stablecoins could become particularly important.

Native USDC has already expanded Sei's stablecoin infrastructure, while Ondo's USDY has been expected to launch on the network. If more stablecoin liquidity arrives, it could potentially support greater activity across DeFi and other applications.

Another interesting development is accessibility.

MetaMask added official support for Sei, making the network easier to access through one of crypto's widely used wallets. Easier access doesn't guarantee adoption, but it removes some friction for users exploring the ecosystem.

So, are we seeing another Layer 1 rotation?

It is still too early to say.

Crypto capital often moves between narratives. Bitcoin can lead first, followed by Ethereum, and then attention can spread toward alternative Layer 1 networks when traders start searching for new activity.

The recent strength in SEI makes that possibility worth watching, but one strong week alone does not confirm a broader L1 rotation.

The bigger signals would be sustained network usage, growing stablecoin liquidity, stronger application activity and continued interest across multiple Layer 1 ecosystems.

For SEI, that makes the next phase interesting.

The price has brought attention back.

Now the network activity needs to show whether that attention can last.