Crypto Market Sees Declines in TVL and Prices; Nasdaq Seeks Bitcoin Options Approval
The cryptocurrency market is experiencing a mixed landscape with notable shifts in various sectors. The Total Value Locked (TVL) on L2 Beat has seen a decline, standing at $8.24 billion today, down from $8.49 billion yesterday.
Among the top-5 Layer 2 networks, Arbitrum holds the highest TVL at $2.76 billion, though it has decreased by 2.37% since yesterday. Base follows with a TVL of $1.56 billion, marking a 2.43% drop. Blast's TVL is currently $838.18 million, having fallen by 4.44%. Scroll's TVL is $709.70 million, down by 2.79%, while Optimism rounds out the top five with a TVL of $620.45 million, reflecting a 3.57% decrease.
In the broader crypto market, Bitcoin (BTC) is priced at $61,660, down from $62,984 the previous day. Ethereum (ETH) has also seen a decline, currently trading at $2,580 compared to $2,688 yesterday.
Today's fundraising activities have garnered a total of $15.00 million. The largest rounds include OneBalance securing $5.00 million, Chainbound raising $4.60 million, and Nectar AI obtaining $3.90 million. This brings the cumulative fundraising for the week to $35.00 million.
In regulatory news, Nasdaq is seeking approval from regulators to offer Bitcoin options, following similar plans by the NYSE. This move could potentially open new avenues for institutional and retail investors alike.
In Nigeria, the Securities and Exchange Commission (SEC) has granted Quidax the first local crypto exchange license. Quidax's CEO has highlighted the government's openness to innovation, marking a significant step for crypto adoption in the region.
Investment firms Hodler and Gewan have launched a $500 million fund to accelerate innovation in Decentralized Physical Infrastructure Networks (DePIN), AI, and blockchain infrastructure. This substantial investment underscores the growing interest in these cutting-edge technologies.
On the tokenized treasury front, the market cap has surpassed $2 billion, driven by key players such as BlackRock and Franklin Templeton. This milestone points to the increasing integration of blockchain technology in traditional finance.
Lastly, Elon Musk has voiced his support for comprehensive AI safety regulations, advocating for controls akin to those applied to other potentially risky technologies.
