Crypto Market Update: TVL Declines, Trump Promises, and New Euro Debit Card Launch
In the ever-evolving cryptocurrency market, the latest data and news paint a dynamic picture. The Total Value Locked (TVL) on L2 Beat stands at $7.75 billion, down from $7.80 billion yesterday.
Among the top Layer-2 networks, Arbitrum leads with a TVL of $2.58 billion, reflecting a 1.01% decline from the previous day. Base follows with $1.46 billion, down by 0.64%. Blast's TVL is at $767.26 million, showing a slight dip of 0.04%. Scroll has $676.38 million, experiencing a 1.44% decrease. Optimism is the only network to see a positive change, with a TVL of $577.17 million, up by 0.35%.
Bitcoin (BTC) is currently priced at $56,006, down from $58,019 yesterday. Ethereum (ETH) also saw a decline, now at $2,375 compared to $2,450 the previous day.
Today's fundraising activity in the crypto space totaled $30 million, with Balance securing the entire amount. This brings the cumulative fundraising for the current week to $66.74 million.
In recent news, former President Trump promised to turn the U.S. into the "crypto capital of the world." However, despite the buzz, the anticipated crypto blueprint was not revealed. Trump's packed schedule included rallies in Michigan and a town hall in Wisconsin, moderated by Bitcoin supporter Tulsi Gabbard, but the crypto plan was notably absent.
Meanwhile, XRP holders are taking profits at a 13-month high, causing concerns that the price may fall below $0.50. This trend highlights the weakening support levels for XRP.
On the payments front, Mercuryo introduced a new euro-denominated debit card named Spend. The card aims to bridge the gap between self-custodial crypto wallets and traditional payment systems. Issued by Quicko and operating on the Mastercard network, it supports integration with Apple Pay and Google Pay, allowing crypto holders to use their funds with over 100 million merchants.
Bybit Web3 has launched the TON Tournament, offering $200,000 in rewards. This marks the first extensive airdrop event within the TON ecosystem.
Bitcoin and Ethereum spot ETFs continue to see significant outflows, with Bitcoin ETFs experiencing a net outflow of $37.2 million on Sept. 4. This marks the sixth consecutive day of net outflows. The Grayscale Bitcoin Trust led the exodus with a net outflow of $34.2 million, raising concerns about potential volatility and downside risks in the market.
