Sei Network entered March 2026 with a cluster of infrastructure announcements tied to its ongoing conversion from a Cosmos-based chain to an Ethereum Virtual Machine (EVM)-only network. The most time-sensitive development: Coinbase has confirmed a brief suspension of SEI deposits and withdrawals from April 6 to 8, 2026, during which the exchange will migrate all account support to EVM-format (0x) wallet addresses. Users currently holding SEI under Cosmos-format addresses on Coinbase will have their balances converted automatically, at a one-to-one ratio with no fees. Users who wish to opt out of automatic conversion must send their SEI to a compatible self-custodied wallet before April 6. After that date, Coinbase will support only EVM (0x) addresses.

That deadline follows an even more pressing one. Sei Labs has warned that holders of USDC.n, a version of the stablecoin that arrived on Sei via IBC bridges Noble and Axelar, risk losing access to those funds after late March 2026. Approximately $1.4 million in USDC.n remains in circulation on the network. The risk stems from the SIP-3 upgrade, which will strip out Cosmos-native token and contract support entirely. Once the upgrade activates, unconverted USDC.n balances may become inaccessible. Sei Labs has stated: "Once live, the change will remove compatibility with Cosmos-native tokens. USDC.n balances may become inaccessible or lose functionality on Sei Network if they are not converted beforehand." Holders with active positions on platforms including Yei Finance, Takara Lend, DragonSwap, and Symphony need to unwind those positions before the upgrade activates and should consult Sei Labs' migration instructions for a full list of affected protocols. Users with larger positions (several thousand dollars or more) are advised to use a batch migration route through Polygon rather than smaller decentralized exchanges, where liquidity constraints can cause significant slippage.

Sei originally launched as a Cosmos SDK chain targeted at high-throughput trading. SIP-3, approved by community governance in May 2025, commits the network to removing Cosmos-native functionality and rebuilding entirely around the EVM. The stated goal, marketed under the name Sei Giga, is a throughput ceiling exceeding 200,000 transactions per second. As part of the transition, Sei is replacing its native oracle system with third-party providers including Chainlink, API3, and Pyth, and is discontinuing support for CosmWasm smart contracts. Coinbase's decision to support the EVM-only architecture ahead of that upgrade provides critical groundwork for sustainable liquidity during and after the migration period.

Sei also crossed 100 million lifetime wallet addresses during the same week. The second 50 million wallets accumulated in roughly six months, compared to approximately two years for the first 50 million. That acceleration is linked to two named developments: a December 2024 partnership with Xiaomi, which will bring pre-installed Sei wallets to Xiaomi smartphones sold outside China and the United States starting this year, and an integration with MetaMask that extended Sei's reach to approximately 100 million MetaMask users globally. Xiaomi ships approximately 168 million devices annually and holds around 24 percent of the Indian smartphone market. A stablecoin payments rollout across more than 20,000 Xiaomi retail stores is planned for the second quarter of 2026. However, wallet creation is not equivalent to economic activity. The Xiaomi pre-install program in particular is likely to generate a significant proportion of dormant or unclaimed wallets, since devices are shipped with wallets pre-loaded before users ever interact with them. Sei's total value locked (TVL), which measures capital held in smart contracts on the network, fell from a peak above $600 million in mid-2025 to roughly $49 million in early 2026, even as daily active addresses climbed past 1.5 million. That divergence, high user counts alongside thin capital lock-in, is a material tension that the Sei Giga upgrade will need to resolve to attract sustained developer and investor attention.

Two additional integrations from the week signal Sei's institutional ambitions. Ledger Enterprise, which offers self-custody infrastructure for corporate clients, added Sei Network support, giving institutional holders tools for staking and DeFi access under multi-signature governance and role-based access controls. That integration joins an existing institutional-grade environment on Sei that already includes tokenized treasury products from BlackRock and Ondo, as well as native USDC from Circle. Monaco Protocol, incubated by Sei Labs, also published benchmarks at launch: trade execution under one millisecond and on-chain settlement in 400 milliseconds. According to Monaco's own launch materials, that places the protocol on par with the Nasdaq and NYSE on execution speed, with settlement roughly 200,000 times faster than the traditional T+1 (trade plus one business day) standard; those figures are self-reported and have not been independently verified. Separately, Sei Labs submitted a proposal to the x402 repository this week standardizing facilitator fee transparency, a step that reinforces the network's institutional credibility alongside the Ledger Enterprise and Monaco integrations.

Rewardy Wallet, South Korea's largest Web3 wallet, launched in September 2024 and added Sei EVM support this week, with gasless transactions planned as a forthcoming feature. The integration is a meaningful proxy for growing EVM demand in Asian markets and complements Sei's broader regional buildout. Sumvin also emerged from stealth with more than $1 million in pre-seed funding. The platform is building AI-driven financial execution tools that let verified users delegate portfolio actions to automated agents within defined limits. Sumvin cited Sei's sub-second finality and low fees as its core infrastructure rationale, with a beta expected in the second quarter of 2026. That model carries direct relevance for South Asia and Sub-Saharan Africa, where smartphone-based financial automation is widespread and where gas fee friction has historically slowed DeFi adoption. According to DemandSage, Sub-Saharan Africa already conducts roughly 73 percent of crypto transactions via mobile device. Sei's stated plans for gasless transactions, combined with the Xiaomi distribution deal, position the network as a candidate infrastructure layer for these markets as those buildouts mature.

SEI was trading near $0.071 as of early March 2026, with a market capitalization of approximately $476 million (ranked roughly 102nd globally by market cap), a fully diluted valuation of approximately $707 million, and approximately $60 million in 24-hour trading volume. Roughly 5.52 billion of a total 10 billion tokens are currently in circulation. The April 6 Coinbase cutoff and the late-March USDC.n migration window are the two near-term action items for anyone holding SEI or Sei-based assets.