Crypto Market Sees Mixed Trends: Bitcoin and Ethereum Up, Major Fundraising News
Cryptocurrency Market Update
Today, the cryptocurrency market is seeing a mix of stability and slight fluctuations. The Total Value Locked (TVL) across Layer 2 (L2) networks, as tracked by L2 Beat, stands at $8.17 billion, a slight dip from yesterday's $8.19 billion.
Among the top Layer 2 networks, Arbitrum maintains its position with a TVL of $2.70 billion, showing no change from yesterday. Base has increased slightly by 0.17%, reaching $1.49 billion. Blast experienced a slight decrease of 0.88%, now standing at $874.55 million. Scroll saw a minor increase of 0.05%, bringing its TVL to $655.09 million. Optimism leads the growth chart with a 1.09% rise, totaling $597.76 million in TVL.
On the price front, Bitcoin (BTC) is witnessing an upward trend, currently priced at $59,748, up from $58,845 yesterday. Ethereum (ETH) also shows a modest increase, now priced at $2,674 compared to $2,667 the previous day.
Fundraising activities are bustling today, with a total of $83.60 million raised. The biggest rounds include Sahara securing $37.00 million, Sling Money raising $15.00 million, and Parfin attracting $10.00 million. This brings the cumulative fundraising over the current week to $162.40 million.
In recent news, an investigation by Bubblemaps has revealed how Sahil Arora amassed over $5 million by manipulating meme coin markets through celebrity endorsements. Despite some errors, Arora's exploitative activities continue.
Chaos Labs has raised $55 million as demand grows for on-chain risk management. Founded in 2021, Chaos Labs aims to expand its platform to meet the increasing need for automated risk management in decentralized finance (DeFi).
Crypto analyst Michaël van de Poppe suggests Ethereum could be on the cusp of a strong upward trend. Inflows into newly approved spot Ethereum exchange-traded funds (ETFs) indicate a potential price uptick. Van de Poppe notes that Monday marked the first day of zero outflows on Ethereum.
Additionally, nearly $600 million worth of Bitcoin seized from Silk Road has been moved to Coinbase by the US government, as reported by Arkham.
