2025-12-28 17:20:11

Sei Chain's trading volume in the third quarter of this year reached a new high, with spot trading volume hitting $4.6 billion. Interestingly, although automated market makers (AMMs) still dominate, the rapid rise of on-chain centralized order books (CLOBs) is the real market signal to watch.

Why is CLOB worth paying attention to? First, it represents a qualitative leap in capital efficiency—liquidity is no longer locked within curves but flows more flexibly. Second, tighter spreads mean a more precise price discovery mechanism. Most importantly, scalability—when trading volume continues to climb, the CLOB model can better meet market demand, which is its core competitive advantage over traditional AMMs.

SEI-2,55%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

16 Likes

Reward
16
10
Repost
Share

Comment

0/400

BoredStaker

· 2025-12-31 09:49

4.6 billion in trading volume sounds impressive, but can CLOB really replace AMM? It still feels too idealistic. So, just because liquidity is flexible and fluid, it can win? I don't think so, brother. I believe in tight CLOB spreads, but what about real on-chain experience? Slippage is still hard to avoid. Wait, is this leap in capital efficiency just another bunch of hype? History always repeats itself. It's interesting, but I remain bearish on this CLOB narrative; AMM isn't that easily shaken.

View OriginalReply0

TokenomicsPolice

· 2025-12-31 08:53

Is CLOB really about to take off... After so many cycles, it feels like every time there's something new hyped up, but what’s the result? It still depends on genuine users and real retention. Liquidity not being locked sounds great, but the real metric is whether trading depth is sufficient. A trading volume of 4.6 billion looks impressive, but I’m just worried about the lack of sustainability afterward—same old story.

View OriginalReply0

BlockBargainHunter

· 2025-12-31 03:39

A trading volume of 4.6 billion looks impressive, but can CLOB really outperform AMM? I remain skeptical. CLOB definitely excites me, I support the liquidity liberation aspect, but in reality, it still depends on whether the trading pairs have enough depth. Bid-ask spread doesn't mean much; what's crucial is whether there are good projects worth trading. The key to this wave is who can be the first to develop a killer app—talking about scalability alone is useless. How has Sei performed this quarter? Hearing only about new trading volume highs, but the price hasn't kept up, now that's a joke.

View OriginalReply0

NotFinancialAdviser

· 2025-12-30 16:42

CLOB is hot, but the real issue is whether the trading depth is sufficient... It still sounds a bit vague. Wait, do we need to take another look at the on-chain real active volume of 4.6 billion? Damn, this price gap has really narrowed a lot, but I still feel something's off. Honestly, the AMM system can survive another two years without issues, don’t overhype CLOB. I agree with the flexibility of liquidity, just worried it might become the next financial narrative. If Sei can really break through this time, it would be interesting, but I’m still watching.

View OriginalReply0

FUDwatcher

· 2025-12-28 17:45

Is CLOB really that awesome? I think it still depends on actual application. Just talking about liquidity flexibility, what's the use? --- 4.6 billion? Not bad, but AMM still needs to keep winning for a while. --- I believe in tight spreads, but I just don't know if Sei can really handle it. --- Another "core competitiveness," tired of hearing it, let the data speak. --- A leap in capital efficiency... sounds good, but try it in a bear market? --- Scalability is indeed a strength of CLOB; other chains should learn from it.

View OriginalReply0

BearMarketMonk

· 2025-12-28 17:44

$4.6 billion looks impressive, but this wave of CLOB gaining momentum... frankly, it's just fixing the inherent flaws of AMM. --- Liquidity freed from the curve? Haha, I've heard that many times, and each time it's the next paradigm. --- Can narrower spreads keep you alive? Don't forget, when exchanges went bankrupt in 2017, the data looked great too. --- Scalability is back... every cycle has a new savior, and then nothing happens. Let's wait until the storm settles before talking. --- Is CLOB really that powerful? Then why hasn't it replaced AMM yet? It's a paradox. --- Talking about capital efficiency, but really, it's just betting on the next bull market. Liquidity without demand is just empty talk, no matter how elegant.

View OriginalReply0

BearMarketBro

· 2025-12-28 17:42

CLOB sounds good, but whether you can really make money depends on the market. No matter how advanced the mechanism is, it can't withstand a bear market. --- $4.6 billion? Feels less than expected. Bitcoin's daily fluctuations can wipe out that amount. --- No hype, no blackening. CLOB is indeed more efficient than AMM, but there are too few ecosystem applications, and no one uses them, so it's pointless. --- Leap in capital efficiency? It just feels like releasing liquidity from the pool, just a fancy way of saying it. --- If Sei can really turn around with CLOB, then I need to reevaluate this chain. --- Tighter spreads = easier to harvest? Suddenly I feel this isn't all good. --- Wait, does this mean CLOB performs well on Sei? Then why hasn't the hype picked up? --- Scalability is always an excuse in crypto; the real bottleneck is still the number of users.

View OriginalReply0

fomo_fighter

· 2025-12-28 17:34

4.6 billion in trading volume sounds impressive, but can CLOB really beat AMM... I'm skeptical. CLOB is indeed satisfying; tight spreads are comfortable, but no one mentions the issue of liquidity fragmentation. I agree that the capital efficiency is high; being free from being locked inside a curve is indeed a big advantage. Sei's push for CLOB is happening at a pretty rapid pace. Could it be another flash in the pan? This is the key to Sei's turnaround, but it depends on whether the subsequent ecosystem can keep up.

View OriginalReply0

UnluckyValidator

· 2025-12-28 17:32

4.6 billion dollars? Sei is really starting to gain momentum, and this wave of CLOB is indeed different. --- Honestly, I like that liquidity isn't locked up; it's much more flexible compared to the AMM model. --- Tighter spreads... I'm curious whether the actual trading experience will be as good as the hype. --- I believe in the scalability of this, it all depends on whether trading volume can sustain the growth. --- If CLOB takes off, those sticking to AMM will be panicked haha. --- Is the opportunity to make money coming? Or is it just another illusion... --- With such flexible liquidity, is the arbitrage space opening up again? --- Compared to traditional AMM... Hey, do you think it might surpass them? --- The improved capital efficiency sounds good, but I'm worried it might turn out to be another story in practice.

View OriginalReply0

MevTears

· 2025-12-28 17:21

CLOB really outperforms AMM, liquidity can finally breathe, no more getting trapped by that curve.

View OriginalReply0