Crypto Market Update: Bitcoin Dips, Layer 2 TVLs Shift, and Big Blockchain Partnerships
Cryptocurrency Market Update
The cryptocurrency market is seeing varied movements across different platforms and assets. The total value locked (TVL) on L2 Beat has shown a slight increase, standing at $9.10B today compared to $9.02B yesterday.
Among the top Layer 2 networks, Arbitrum leads with a TVL of $2.85B, reflecting a 0.49% rise from yesterday. Base follows with $1.56B, though it experienced a minor dip of 0.38%. Blast's TVL is at $1.39B, marking a significant decline of 3.14%. Linea and Optimism have shown positive momentum, with TVLs of $755.25M (3.53% increase) and $712.35M (4.41% increase), respectively.
Bitcoin's price has dropped to $61,944 from yesterday's $62,840, while Ethereum's price has also seen a slight decrease, now at $3,412 compared to $3,439 yesterday. This movement aligns with options data indicating that traders are shorting Bitcoin and longing Ether ahead of the Ethereum ETF launch, amidst dwindling volatility.
In the fundraising arena, today's total funding reached $20.00M. The largest round was secured by Astria, raising $12.50M. Mamori followed with $5.00M, and Nubila Network garnered $2.50M. Over the current week, cumulative fundraising has hit $564.40M.
Significant developments in the blockchain space include CertiK's partnership with Alibaba Cloud. This collaboration aims to enhance Asia's blockchain ecosystem by integrating CertiK's security suite into Alibaba Cloud's BaaS network. Meanwhile, BloomBeans is making waves by introducing a fully decentralized financial system, set to revolutionize blockchain-based financial products through P2P exchanges and decentralized loan markets.
OpenLedger has raised $8M to advance its data management infrastructure, with backing from Polychain Capital, Borderless Capital, and HashKey Capital. Additionally, ZKSync has introduced the Elastic Chain, a scalable network of zero-knowledge blockchains, designed to offer a unified and user-friendly experience through rollups, validiums, and volitions.
