Crypto Market Update: Bitcoin Surges, VanEck Eyes Ethereum ETF, Solana Innovates
The cryptocurrency market is currently experiencing dynamic shifts, with the total TVL on L2 Beat slightly decreasing from $8.99B yesterday to $8.96B today. Among the top Layer 2 networks, Arbitrum leads with a TVL of $2.77B, marking a 1.06% increase from yesterday. Blast, however, saw a significant drop of 7.57%, bringing its TVL to $1.67B. Base recorded a 1.74% rise, reaching $1.56B, while Optimism and Linea posted TVLs of $677.80M and $662.48M, up by 1.20% and 1.39%, respectively.
Bitcoin's price surged to $61,713, up from $60,316 yesterday. Ethereum also saw an uptick, with its price climbing from $3,353 to $3,399.
In the fundraising sphere, the total funding today reached $154.00M. Hut 8 Mining secured the largest round with a $150.00M investment, followed by Allora with $3.00M and Shaga with $1.00M. This brings the cumulative fundraising for the current week to $154.00M.
On the regulatory front, VanEck has filed Form 8-A with the SEC, marking progress towards a spot Ethereum ETF. This move signifies VanEck's commitment to expanding its crypto offerings.
The Solana Foundation has introduced innovative tools that can transform any website or app into a starting point for crypto transactions on the Solana blockchain. This could significantly enhance the usability and integration of crypto in everyday digital interactions.
Meanwhile, the German government has sent an additional $24 million in bitcoin to Coinbase and Kraken, as reported by Arkham. This transaction involved 400 BTC and underscores the growing involvement of governments in the crypto space.
In a concerning development, Bitcoin DeFi application Alex Lab attributed a $4 million exploit to North Korea's Lazarus Group. The exploit, which occurred in May, resulted in substantial losses and highlights the ongoing security challenges in the DeFi sector.
Lastly, Hut 8 Mining received a substantial $150M investment from Coatue Management, a firm also invested in CoreWeave. This funding reflects the increasing interest of AI firms in the energy resources of Bitcoin miners.
