Widely followed crypto trader Altcoin Sherpa is bullish on one altcoin operating in the Bitcoin (BTC) ecosystem. The pseudonymous analyst tells his 205,000 followers on the social media platform X that Stacks (STX) has more upside potential. “STX: entry at $1.75 or around there would be excellent. Eyes on this one. I think it’s really […]
The post Trader Says Altcoin From Bitcoin Ecosystem Has a Lot of Room To Run, Updates Outlook on SEI and BONK appeared first on The Daily Hodl.
A widely followed crypto trader says one Ethereum (ETH) rival that performed extremely well last year is on the verge of another massive rally. Pseudonymous analyst Bluntz tells his 235,200 followers on the social media platform X that Solana (SOL) could increase nearly 47% from its current value. “SOL gearing up for the run to […]
The post Ethereum Rival Gearing Up for a Run to New Highs, Says Top Crypto Analyst Who Nailed 2018 Bitcoin Bottom appeared first on The Daily Hodl.
A Solana (SOL) competitor is suddenly soaring amid news that stablecoin issuer Circle (USDC) is investing in the blockchain project. The Sei Network (SEI), the new layer-1 blockchain that claims to be a blockchain faster than Solana, reached a high of $0.250 after the Circle announcement, a more than 110% increase from its value of […]
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Stablecoin issuer Circle is investing in a new layer-1 blockchain as a means of expanding the use cases for USDC, its dollar-pegged digital asset. In a new company blog post, the Sei Network (SEI) – which claims to be the fastest blockchain in the world – says that Circle’s venture capital branch is investing in […]
The post Circle Invests in Layer-One Blockchain Sei in Move To Expand Use Cases for USDC appeared first on The Daily Hodl.
Sei Network previously raised $5 million in funding in August 2022.
According to a blog post published on Jan. 4, Singapore-based cryptocurrency exchange MEXC announced that it would allocate $20 million to support developments on Sei Network. A layer one blockchain designed for trading, Sei Network's stated features include native order matching, frontrunning protection, smart block propagation, and 600 milisecond on-chain trade settlement. Leo Zhao, investment manager of MEXC Ventures, commented:
"AMM [Automated Market Makers] was the dominant market-making method in crypto for the past 2 years. The lack of a more efficient market-making strategy is in large part because of technology restrictions like low speed and smart-contract restrictions. We believe Sei's customized Layer 1 solution will be a game changer in the industry."
. Last August, Sei Network raised a $5 million funding round from investors such as Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, and others. By then, over 20 decentralized applications had been building in the ecosystem. Sei claims its blockchain can process approximately 22,000 orders per second and has 250,000 testnet users. Similarly, to meet exchange trading specifications, other decentralized solutions such as dYdX, chose to migrate its blockchain from Ethereum (ETH) to Cosmos (ATOM). Developers said Ethereum simply couldn't handle its orderbook of around1,000 orders per second.
"Decentralized exchanges are also the most underserved application in crypto. They demand a unique level of requirements for reliability, scalability, and speed that no other apps need. If a large exchange goes down for a few moments, it's catastrophic, but the same downtime is far more tolerable for most other application types."
MEXC Ventures currently possesses approximately $100 million in assets under management spread across 300 portfolio companies. Its parent MEXC exchange processed around $600 million in total trading volume in the past 24 hours. The firm is known for its perpetual future products, which launched in Q4 2018.
#MEXC launches a $20M dedicated fund to support the development of key projects on @SeiNetwork
— MEXC Global (@MEXC_Global) January 4, 2023
Check out what @zhao_eth, investment manager at MEXC Ventures said about this initiative ⤵️ https://t.co/EkqnTRntOA pic.twitter.com/kRcCIpvjp1
A widely followed crypto analyst is bringing attention to 10 upcoming airdrops and advising investors on how to capitalize on them. In a lengthy thread, crypto strategist Miles Deutscher tells his 257,000 Twitter followers to keep an eye out for the following 10 airdrops. According to the trader, airdrops are a great way for investors […]
The post 10 Big Money Airdrops Are Coming to Savvy Crypto Traders, According to Analyst – Here’s How to Capitalize appeared first on The Daily Hodl.
