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The percentages and metrics are calculated from its change over a 7-day time frame, unless noted otherwise.
Highlighting some of the biggest announcements from Sei.
💨 What’s happening: Sei recorded an all-time high in daily stablecoin transaction volume following its integration of USDC and CCTP V2.
💨 Why it matters: On July 22, Sei’s stablecoin transaction volume hit a peak of $5 billion, Artemis data shows. Its total transaction volume is up nearly 230% on the month.
Stablecoin transaction volume is a key indicator of a blockchain’s utility and adoption, particularly in DeFi and payments. Since stablecoins maintain a 1:1 ratio with fiat currencies, it offers users a more stable path for transactions, lending or trading.
In Sei’s case, integration of native USDC and CCTP V2 showcases its ability to handle a large amount of financial flows, which can attract liquidity and support applications that utilize high-frequency trading for cross-border payments.
CCTP enables USDC to flow natively across blockchains, unifying liquidity and simplifying user experience. For Sei, users can access USDC’s value, while developers can create payment solutions that utilize the network’s infrastructure.
USDC is one of the most widely used stablecoins in web3 with a market cap of $63.84 billion, according to CoinGecko at the time of writing. As Sei progresses and implements network updates like Giga to support tokenized real-world assets or enterprise solutions, it could further push its mission of being able to support financial markets globally.
💨 The bigger picture: Stablecoins serve as a bridge between traditional financial systems and blockchain-based economies. Its 1:1 peg makes the digital asset a trusted medium especially with individuals in regions that may have unstable currencies. As stablecoins pave the way as a more reliable medium of exchange, enterprises and financial institutions like PayPal and J.P. Morgan has started to implement it as a low-risk entry into blockchain ecosystems.
In general, as more regulatory clarity comes on the stablecoin front, blockchains that can handle high volumes of it can lead the charge in providing a place for developers to build scalable payment solutions.
Updates on the latest games, validators, builders and more that are helping Sei expand
Sei recorded 10.98M unique active wallets in the past month, the highest among all gaming blockchains DappRadar data shows
Takara Lend hit an all-time high of $139M in TVL on July 24, according to DefiLlama
Folks Finance launched its cross-chain lending platform to Sei
Highlighting the builders, users and ecosystem players within the Sei blockchain.
New Festival Town released its daycare-esque virtual console game to Sei
Listen to an X space with the Yei Finance team about its NFT collection and USDC integration
Hot Spring launched Cozy World, an in-game sandbox tool that displays quest campaigns and claimable rewards to players
Want to get involved in the ecosystem? Check out the latest job postings for Sei Labs and Sei Development Foundation or get involved with an activation below.
Applications for the Sei ai/accelathon, a DeFi and AI focused hackathon with up to $1M in prizes powered by the Sei Development Foundation and others, are live until Aug. 20
Participate in DragonSwap’s farm campaign and deposit liquidity provider tokens to receive rewards up to $12K in USDC
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.