Crypto Market Sees TVL Decline; Bitcoin Dips Amid Fundraising and Blockchain Innovations
The cryptocurrency market is experiencing notable fluctuations. The total TVL on L2 Beat currently stands at $8.05 billion, down from $8.19 billion yesterday.
Among the top-5 L2 networks, Arbitrum leads with a TVL of $2.69 billion, despite a 2.22% drop from yesterday. Base follows with $1.52 billion, marking a 1.12% decrease. Blast's TVL is $806.73 million, down by 1.93%. Scroll and Optimism report TVLs of $693.90 million and $595.92 million, reflecting declines of 1.47% and 1.20%, respectively.
Bitcoin's price has dipped to $58,092 from $59,371, while Ethereum has fallen to $2,448 from $2,528.
Today's fundraising activities have amassed a total of $92.60 million. Bridge secured the largest round with $58.00 million, followed by Edge Matrix Chain with $20.00 million, and Quai Network with $5.00 million. The cumulative fundraising over the current week totals $185.22 million.
In other news, Robot Ventures has raised $75 million for its early-stage crypto venture capital fund. This fund aims to back startups like EigenLayer, Lido Finance, and Flashbots.
Qubic has unveiled Aigarth, a groundbreaking project that merges AI with decentralized blockchain systems. Aigarth is designed to support the autonomous development of AI, enabling continuous learning, adaptation, and evolution.
Binance Research has released a report discussing blockchain's potential to disrupt the $2.83 trillion payment industry. This exploration highlights the transformative impact blockchain could have on traditional payment systems.
The CrossFi Foundation has introduced a $50 million grant initiative to support ambassadors, developers, and users within the CrossFi community. This initiative aims to foster growth and drive innovation.
Meanwhile, Bitcoin whales are viewed as potential sellers, causing unease in the crypto market. Bitcoin has trailed traditional assets in August, hindered by ebbing liquidity and concerns over potential government sales from their cryptocurrency stockpiles.
