Crypto Market Update: Layer 2 Networks Surge to $9.50B, Bitcoin Hits $96K Amid Growing Investor Interest
The cryptocurrency market is experiencing notable shifts, with total value locked (TVL) on Layer 2 networks rising to $9.50 billion from $9.19 billion yesterday. This increase reflects a growing interest in scaling solutions as traders seek efficiency and lower fees.
Among the top Layer 2 networks, Base leads with a TVL of $3.73 billion, despite a slight decrease of 4.18% from the previous day. Arbitrum follows closely with a TVL of $3.05 billion, down 2.40%. Optimism holds $772.69 million, a drop of 2.26%, while Mantle and Blast report TVLs of $469.45 million and $456.13 million, respectively, with declines of 2.00% and 2.43%.
In the broader market, Bitcoin (BTC) has seen a price surge, currently trading at $96,568, an increase from $94,538 yesterday. Ethereum (ETH) also gained, now priced at $3,467 compared to $3,351 the day before. These price movements may signal renewed investor confidence as market conditions evolve.
In fundraising news, the total for the week stands at $2.30 million, though no new rounds were reported today due to the weekend lull.
On the innovation front, MEXC has launched a significant feature allowing 300x leverage on BTC and ETH futures trading pairs. This move aims to provide investors with greater opportunities to capitalize on market volatility, particularly in a bullish environment.
In an interesting development, Robin Li, founder of Baidu, predicts an ‘exponential’ boom in AI applications by 2025. His optimism aligns with Baidu’s investments in AI, which are expected to yield returns this year, as noted in his New Year’s message to staff.
Meanwhile, speculative excitement surrounds Dogecoin (DOGE), with a prominent analyst suggesting it could rally by 6,770% if it follows a historic price pattern. This potential surge has caught the attention of many in the crypto community.
Regulatory developments are also on the horizon. A Hong Kong lawmaker is exploring the possibility of adding Bitcoin to the region's national reserves as part of a strategy for financial stability. This proposal reflects a growing recognition of Bitcoin's potential role in modern finance.
In Switzerland, a proposal is underway mandating the Swiss National Bank to hold Bitcoin. To trigger a public referendum, proponents must gather 100,000 signatures from the country's 8.92 million residents by June 30, 2026.
