Seeing MessariCrypto's @ SeiNetwork Q3 report, it feels like giving a chain a health check. Many blockchain health check forms are written in a fancy way: there are a lot of indicators, but when you ask 'Where are the people? Where is the money? Will it come back?', you remain silent. The data is also quite direct: The average daily active addresses in Q1 2025 have risen to 311900 (+78.1%), with gaming leading the charge. Q2 2025 continues to rise to 426000 (+36.6%), with DeFi's TVL reaching a historical high of $609.4 million. By Q3 2025, according to external sources, the daily active market will reach 824000 (+93.5%), with an average of 2 million daily transactions. The quarterly trading volume for gaming will reach 116 million transactions, and the average daily spot volume for DEX will be approximately 43 million US dollars @SeiNetwork is now more like building a path that allows institutional fleets to drive in: compliance, partnerships, and infrastructure are all being patched up. You can see from the Q2 report that even the 'foundation item' of slowing down the unlocking pace is clearly stated (monthly SEI release decreased from 219.7 million to 113 million). If you want to focus on Sei, don't just look at the price. It's enough to focus on three things - whether people are using it every day (stickiness), whether money is being transferred every day (borrowing/trading), and whether the road is getting wider and wider (institutions/compliance/unlocking pressure). Only when these three factors strengthen simultaneously can it be seen as laying the foundation for the "big expansion" in 2026 SeiNetwork