Crypto Market Surges: L2 TVL Hits $8.14B, Bitcoin Dips, Solana ETF Approved in Brazil

The cryptocurrency market continues to show dynamic shifts. The Total Value Locked (TVL) on L2 Beat has seen a notable increase, with the current TVL at $8.14B, up from $7.80B yesterday.

Among the top Layer 2 (L2) networks, Arbitrum leads with a TVL of $2.71B, reflecting a 3.68% change from yesterday. Base follows with $1.44B, marking a 5.34% increase. Blast holds $863.31M, up by 3.30%. Scroll shows a significant rise to $648.15M, a 6.11% increase. Optimism rounds out the top five with $589.38M, a 3.45% change from the previous day.

Bitcoin's price experienced a slight dip, currently standing at $59,902, down from $61,853 yesterday. Ethereum also saw a decrease, with its price now at $2,561, compared to $2,682 the previous day.

In fundraising news, the total funding today reached $31.89M. The biggest rounds included Vessel securing $10.00M, Pentagon Games raising $6.00M, and 375ai obtaining $5.00M. The cumulative fundraising over the current week stands at $100.09M.

Bitcoin briefly topped $62,000 this Friday morning as fears of a global recession subsided, driven by lower-than-expected U.S. initial jobless claims.

The SEC of Thailand has launched a digital asset regulatory sandbox, aiming to enable testing for digital asset-related services and encourage further development in the sector.

Solana's ETF approval in Brazil has sparked hope, though challenges remain for similar approvals in the U.S. market. Samara Cohen, BlackRock's CIO for ETF and Index Investments, mentioned that Bitcoin and Ethereum will continue to be the primary cryptocurrencies traded through ETFs for the foreseeable future.

Palantir shares surged 11% following a deal to sell AI services to U.S. defense and intelligence agencies, in collaboration with Microsoft.

Vitalik Buterin has backed the proposed ERC-7683 standard for cross-chain trade, aimed at enhancing interoperability between decentralized networks.