Crypto Market Shifts: Arbitrum Leads TVL Surge, Ethereum ETF Inflows Eye $10B
The cryptocurrency market is experiencing notable shifts, with the Total Value Locked (TVL) on L2 Beat rising to $8.72B from $8.53B yesterday. Arbitrum leads the pack with a TVL of $2.83B, a slight increase from 2.48% yesterday. Base follows with a TVL of $1.41B, up from 1.00% the previous day. Blast's TVL stands at $1.25B, down from 2.82%. Linea and Optimism have TVLs of $669.32M and $668.20M, dropping from 1.98% and 3.17%, respectively.
Bitcoin's current price is $57,309, a minor decrease from $57,787 yesterday. Ethereum's price saw a slight uptick, now at $3,110 compared to $3,104 yesterday. Fundraising efforts today totaled $5.50M, with Tread.fi securing $3.50M and ThirdFi raising $2.00M. Cumulatively, this week's fundraising amounts to $41.50M.
In recent news, an analyst predicts that Ethereum ETF inflows could reach $10B, potentially pushing ETH to new highs. Crypto investment manager Tom Dunleavy expects ETH's spot price to be more responsive to ETF inflows than BTC's. Meanwhile, Coinbase Germany's head addressed the government's decision to sell $2.3bn in Bitcoin, stating it isn't a "particularly anti-crypto move."
MicroStrategy, led by Bitcoin bull Michael Saylor, announced a 10-for-1 stock split after amassing $13 billion in Bitcoin. The company's stock price has more than tripled over the last year. Additionally, Microsoft will leave its board observer role at OpenAI amid increasing global antitrust regulatory concerns.
On the development front, Sonic has partnered with Neon Stack to introduce EVM-compatible DApps to Solana. This integration aims to simplify the deployment of EVM-powered dApps on the Sonic Virtual Machine.
