Crypto Market Sees Bitcoin Surge, L2 TVL Drops, and Major Fundraising News
Crypto Market Update
The cryptocurrency market has seen notable fluctuations over the past 24 hours. According to L2 Beat, the total value locked (TVL) on Layer 2 (L2) networks currently stands at $8.09 billion, a slight decrease from $8.14 billion yesterday.
Among the top L2 networks, Arbitrum leads with a TVL of $2.68 billion, marking a 0.72% decline from the previous day. Base follows with a TVL of $1.45 billion, down by 0.37%. Blast and Optimism have also seen declines, with TVLs of $864.30 million and $577.26 million, reflecting drops of 0.65% and 1.04% respectively. Scroll, however, bucked the trend with a 0.69% increase, reaching a TVL of $643.37 million.
Bitcoin's price has surged to $60,104 from $58,868, while Ethereum has also seen a rise, currently priced at $2,686, up from $2,561.
In the world of fundraising, the weekend has brought a pause with no new funding rounds today. However, the cumulative fundraising over the current week has reached $4.80 million.
Several significant developments have made headlines. PlayFi has announced an early launch of its Genesis Node Sale after recording 70,000 transactions in just one week. This news was reported by Metaverse Post from New York City on August 12, 2024.
In another major move, an Ether ICO whale has transferred 5,000 ETH to exchanges, bringing the monthly total to $154 million. Over the past 35 days, this whale has deposited 48,500 ETH to OKX at an average price of $3,176.
Q2 has seen crypto startups raise $2.7 billion, though late-stage valuations have dropped by 36% to $40.8 million, indicating a more cautious investor approach.
Marathon Digital, a Nevada-based miner, has announced a $250 million raise through convertible senior notes issuance to bolster its Bitcoin holdings. This move aims to strengthen its position in the market, as reported by BeInCrypto.
Lastly, Aleph Zero has launched its zkOS-powered Ethereum Layer 2 mainnet. This launch integrates Arbitrum Orbit technology and zkOS tools, promising to enhance blockchain privacy and speed.
