Crypto Market Update: Bitcoin & Ethereum Surge, Arbitrum Leads L2 Networks, Vitalik Speaks
Crypto Market Update
The cryptocurrency market is experiencing notable shifts, as evidenced by recent data and news. The Total Value Locked (TVL) on L2 Beat currently stands at $8.66 billion, a slight decline from yesterday's $8.72 billion.
Among the top Layer-2 networks, Arbitrum leads with a TVL of $2.81 billion, reflecting a 0.65% decrease from the previous day. Base follows with $1.41 billion, down by 0.45%. Blast shows a TVL of $1.23 billion, marking a 1.41% drop. Optimism holds $665.36 million, a 0.59% decline, and Linea rounds out the top five with $658.57 million, down by 1.44%.
Bitcoin (BTC) has seen a price surge, currently trading at $58,248, up from $57,329 yesterday. Ethereum (ETH) also shows an upward trend, now priced at $3,136 compared to $3,099 the day before.
In fundraising news, today's total funding amounts to $7.10 million. The biggest rounds include RECRD, which secured $4.00 million, and Soccerverse, raising $3.10 million. Over the current week, cumulative fundraising has reached $110.60 million.
Vitalik Buterin recently discussed the future of Ethereum and scalability within the crypto community. His insights were shared during the AltLayer Rollup Day in Brussels, an event that drew developers, investors, and blockchain enthusiasts to explore scaling solutions.
Solv Protocol has launched the second phase of SolvBTC Babylon LST deposits, expanding across Ethereum, BNB Chain, Arbitrum, and Merlin Chain. This phase includes an increased staking cap and an updated incentive plan.
Bitcoin's price has been influenced by the latest US Producer Price Index (PPI) inflation data. Despite edging higher, analysts remain cautious about BTC's price strength. Key price levels have emerged as Bitcoin reaches $58K.
In regulatory news, Stacks, a Bitcoin scaling network, has avoided charges as the SEC closed its investigation without recommending enforcement action.
DeFi continues to grapple with security issues. The complexity and convoluted solutions often lead to users losing their funds. Addressing these security woes remains a critical challenge for the DeFi sector.
