Sei Network's perpetual DEX trading volume was once surpassed by Avalanche, but it regained the top spot within 48 hours, with trading volume increasing by approximately 23 million USD. Although Sei's monthly active addresses far exceed Avalanche (7.6 million vs. 1.6 million), Avalanche's open interest contracts reach as high as 443 million USD, far surpassing Sei's 74 million USD, highlighting Avalanche's deeper liquidity. This competition also underscores Sei's strong momentum in attracting traders, while Avalanche maintains dominance with its mature market depth.