Crypto Market Sees Mixed Trends: Bitcoin Dips, Ethereum Rises, and Regulatory Shifts
Crypto Market Update
The cryptocurrency market is witnessing a mix of fluctuations and regulatory developments. The total TVL on L2 Beat currently stands at $8.06B, a slight dip from yesterday's $8.24B.
Among the top-5 L2 networks, Arbitrum leads with a TVL of $2.72B, despite a 1.38% decrease from the previous day. Base follows with $1.52B, marking a 2.46% drop. Blast's TVL is at $808.83M, down by 3.50%. Scroll and Optimism show declines of 3.06% and 3.24%, with current TVLs of $688.00M and $600.36M, respectively.
Bitcoin (BTC) price has decreased to $58,914 from $59,632. Ethereum (ETH), however, shows a slight increase, currently priced at $2,494 compared to yesterday's $2,465.
Today's fundraising totals $58.67M. The largest rounds include Space and Time with $20.00M, Solayer securing $12.00M, and Gameplay Galaxy raising $11.17M. This brings the cumulative fundraising over the current week to $73.67M.
In regulatory news, OpenSea has received a Wells notice from the SEC, signaling a potential lawsuit over the classification of certain NFTs as securities. This development could have significant implications for the NFT marketplace.
Uniswap Labs has announced a partnership with Across Protocol to develop the ERC-7683 standard for cross-chain intents. This move aims to enhance UniswapX's liquidity aggregation capabilities across chains.
Wrapped Bitcoin (WBTC) has seen a 4.21% decrease in the last 24 hours, now priced at $59,121.00. This is a notable shift from its upward trend over the past week, where it moved from $59,293.16 to its current price.
Daddy Meme Coin has plummeted 34% amid legal controversies surrounding Andrew Tate, leading to investor uncertainty and a lack of clear purchase promises.
Lastly, Pyth Network has partnered with Sony Group and Startale Labs to deploy a real-time price oracle on Soneium, aiming to enhance the blockchain's data accuracy and reliability.
