Sei Foundation announces collaboration with Gitcoin. Fantom is preparing to launch its stablecoin USDC.e. With the effect of these developments, altcoin prices started to rise.

Sei and Gitcoin shake hands, altcoin prices react positively!

Cryptocoin.com As we reported, Sei Foundation announced its collaboration with Gitcoin. Sei also introduced the Sei Creator Fund, a $10 million initiative. With this fund, it announced that it will support existing and new NFT and Social projects in its ecosystem. The application process for the grants will take place in two phases. In Phase 1, applicants need to apply directly to the Foundation. This is followed by Phase 2, which involves community-driven funding and is done in partnership with Gitcoin. Sei publicized the development with the following statements:

Sei Foundation announced a partnership with Gitcoin to launch the Sei Creator Fund, a $10 million grant fund for the creation and growth of NFT and Social projects on Sei.

This fund is designed to empower creators and founders across the NFT and Social spectrum, such as collections, apps, infrastructure, content creation and even IRL events, the statement said. On the back of this important development, SEI price started to head north. The altcoin rallied from an intraday low of $0.68 to $0.75. At the time of writing, the token was trading close to these levels.

SEI daily price chart. Source: CoinMarketCap

Meanwhile, GTC also made a bullish move similar to SEI. Accordingly, the altcoin climbed from its intraday levels of $1.75 to $1.89.

GTC daily price chart. Source: CoinMarketCap

Fantom launches stablecoin USDC.e!

Fantom will launch its canonical stablecoin USDC.e, backed by Circle and Wormhole, with potential benefits to users and developers. The foundation made the development public via its official X account. In this regard, it stated that it will launch the USDC.e stablecoin on April 5th with the support of stablecoin giants Circle and Wormhole.

Meanwhile, the asset will be bridged from USDC, which resides on an Ethereum smart contract. It will also become the official stablecoin of the Fantom ecosystem in current and future upgrades. The stablecoin is bridged from USDC and can be upgraded to the native asset in the future. This serves as a potential advantage for the asset across community lines. According to the statement, a future agreement between Circle and Fantom will enable all USDC.e tokens to transition to USDC without an exchange or a developer update to addresses. The altcoin price reacted positively to this development. It jumped from $0.82 to $0.88 on the back of the market recovery.

FTM daily price chart. Source: CoinMarketCap