Crypto Market Surges: L2 Networks TVL Hits $9.02B, BTC and ETH Prices Rise
Crypto Market Update
The cryptocurrency market has been buzzing with activity, showing significant changes in Total Value Locked (TVL) across various Layer 2 (L2) networks. According to L2 Beat, the current TVL stands at $9.02 billion, up from $8.83 billion yesterday.
Breaking down the top-5 L2 networks by TVL:
- Arbitrum: $2.84 billion (up from 2.66%)
- Base: $1.57 billion (up from 1.09%)
- Blast: $1.43 billion (down from -0.37%)
- Linea: $729.51 million (up from 2.58%)
- Optimism: $682.24 million (up from 2.83%)
Bitcoin (BTC) and Ethereum (ETH) have also seen price increases. BTC is currently trading at $63,404, up from $62,741 yesterday. ETH is at $3,480, up from $3,436.
In the fundraising arena, there are no new rounds today due to the weekend. However, the cumulative fundraising over the current week stands at $20 million.
Recent news highlights include:
- Massive Amounts of Liquidity Set To Flood Global Financial Markets: Real Vision CEO Raoul Pal predicts a new wave of liquidity will boost global markets, impacting risk assets significantly.
- Circle Snags First Stablecoin License Under EU's New MiCA Crypto Rules: Circle Mint France will issue the EURC stablecoin and USDC in compliance with MiCA.
- Core Scientific CEO on AI Sales: Adam Sullivan claims AI sales will help the company outpace Bitcoin mining, likening Core Scientific to the "Mike Tyson of Bitcoin mining."
- Journalism Meets AI: TIME and OpenAI announce a strategic alliance to merge TIME's journalism with OpenAI's ChatGPT.
- South Korea's 2nd-largest Chipmaker to Invest $75B in AI: Following a $90 billion commitment for a chip facility, the company plans to invest $75 billion in AI through 2028.
