Crypto Market Sees TVL Drop; Bitcoin, Ethereum Prices Decline; $DOP Listed on 7 Exchanges
Crypto Market Update
The cryptocurrency market is experiencing notable shifts, with the Total Value Locked (TVL) on Layer 2 (L2) solutions witnessing a decrease. The current TVL stands at $7.98 billion, down from $8.42 billion yesterday.
Among the top L2 networks, Arbitrum leads with a TVL of $2.58 billion, reflecting a -3.98% change from the previous day. Base follows at $1.29 billion, down by -7.08%. Blast has a TVL of $1.17 billion, marking an -8.00% decline. Linea and Optimism also saw reductions, with their TVLs at $662.51 million (-5.90%) and $616.05 million (-7.96%), respectively.
Bitcoin (BTC) is currently priced at $56,526, a slight decrease from $57,242 yesterday. Ethereum (ETH) follows a similar trend, with its price dropping to $2,980 from $3,075.
Today's fundraising activities have garnered a total of $8.95 million. The most significant rounds include Swords & Dungeons securing $5.00 million, FreeBnk raising $3.00 million, and Monad Pad obtaining $945K. This adds to a cumulative weekly fundraising total of $617.79 million.
In industry news, the modular blockchain architecture is making waves by addressing scalability issues and paving the way for mass adoption in 2024. This modular design strategy is revolutionizing the distributed ledger sector, offering flexibility, scalability, and specialization. Ethereum's rollup concept and the Merge process are key drivers of this trend.
Additionally, $DOP has announced its listing on seven exchanges, including BYBIT, Kucoin, Gate.io, and Bitfinex. This development, reported by Metaverse Post, marks a significant milestone for the token.
Looking ahead, Ethereum staking ETFs are set to hit Hong Kong within the next six months, according to HashKey Capital. This move could further cement Hong Kong's position as a financial hub.
Despite the positive news on the US job market, which saw 206,000 jobs added in June, the crypto market remains subdued. This trend was highlighted in a recent BeInCrypto report.
In political developments, Multicoin has pledged up to $1 million to support pro-crypto Senate candidates, signaling a strong commitment to influencing crypto-friendly legislation.
