Solana Competitor Explodes Over 110% in Two Weeks Amid New Investment From USDC Issuer Circle
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 $0.118 on November 10th.
Circle said they were investing in the SEI network to expand use cases for USDC, its dollar-pegged digital asset.
SEI has slightly retraced and is trading for $0.239 at time of writing.
Said SEI,
“SEI is designed specifically to address the primary use case of cryptocurrency – the exchange of digital assets. This blockchain isn’t just fast; it’s the fastest, achieving 390ms time to finality and boasts unparalleled speed.
Through integration with SEI, USDC will provide developers and entrepreneurs around the world something they’ve never had before: the ability to build products and commerce on an open platform globally, quickly, and cheaply with instantaneous transaction settlement.”
According to SEI, its trading-focused blockchain network is faster than Solana’s based on certain key data.
SEI says its transaction finality on its blockchain is 500 milliseconds whereas Solana’s transaction finality is around 2.5 seconds. SEI also compares its transactional throughput with Solana by saying Sei Network has the capability of 20,000 orders per second (ops) and Solana can handle 10,000 transactions per second (tps).
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Solana Competitor Explodes Over 110% in Two Weeks Amid New Investment From USDC Issuer Circle appeared first on The Daily Hodl.
