Bitcoin Surpasses $100,000: Crypto Market Soars as Ethereum Rises and Funding Grows
The cryptocurrency market is currently witnessing a significant surge, highlighted by Bitcoin's recent milestone of surpassing $100,000. As of today, Bitcoin (BTC) is trading at $103,445, reflecting a 7.7% increase over the last 24 hours. Ethereum (ETH) is also on the rise, currently priced at $3,929, up 6% from yesterday.
This bullish momentum has attracted attention from various sectors. Former President Donald Trump congratulated Bitcoin enthusiasts via Truth Social, stating, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU'RE WELCOME!!! Together, we will Make America Great Again!” His remarks come as El Salvador's President Nayib Bukele celebrates the milestone, emphasizing a growing acceptance of cryptocurrencies in mainstream discussions.
In addition to the price surge, the total value locked (TVL) in Layer 2 (L2) networks has also seen a notable increase, reaching $10.81 billion today compared to $10.35 billion yesterday. The top five L2 networks are as follows:
- Base: $3.91B (down 4.22%)
- Arbitrum: $3.38B (down 4.56%)
- Optimism: $820.01M (down 4.26%)
- Blast: $653.24M (down 4.23%)
- Mantle: $525.10M (down 3.48%)
Market analysts are optimistic about Bitcoin's future. Bernstein Research has projected that Bitcoin will emerge as the premier “store of value” asset, potentially reaching $1 million by 2033. Their analysis indicates an increasing role for Bitcoin in institutional investment portfolios, further solidifying its status in the global financial landscape.
On the fundraising front, today's total funding reached $37.50 million, with notable rounds including Interlace and Earos, each securing $10 million, and The Binary Holdings raising $5 million. Cumulatively, the week has seen a total of $217.03 million in funding.
In other news, Transak has announced a collaboration with Phantom to enhance user interaction with digital assets, aiming to simplify the adoption of Web3 technologies. Meanwhile, Chainalysis has parted ways with its founding CEO, Michael Gronager, who will be succeeded by co-founder Jonathan Levin.
As Bitcoin continues to climb, U.S. crypto stocks are also experiencing a surge in pre-market trading, driven by the recent price movement. Marathon Digital Holdings (MARA) has seen a boost following the completion of an $850 million offering of zero-coupon convertible senior notes.
