Crypto Market Update: TVL Dips, Bitcoin Rises, and Major Industry Moves Unveiled
Crypto Market Update
The cryptocurrency market continues to showcase its dynamic nature with recent shifts in Total Value Locked (TVL) and notable news from industry giants.
According to L2 Beat, the total TVL on Layer 2 networks stands at $9.62 billion, a slight dip from yesterday's $9.65 billion. Arbitrum leads the pack with a TVL of $2.96 billion, despite a 0.36% decrease from the previous day. Blast follows with $2.07 billion, down 0.81%, while Base holds $1.61 billion, marking a 0.66% decline. Optimism and Linea round out the top five with $715.89 million and $669.43 million, respectively, both experiencing drops of over 1% and 0.73%.
Bitcoin (BTC) is currently priced at $64,928, a modest increase from yesterday's $64,865. Ethereum (ETH), however, saw a slight decrease, now at $3,519 compared to $3,553 the previous day.
In the fundraising arena, today's total reached $7.10 million. Bondex led the charge with a $4.00 million round, followed by ZKX securing $3.10 million. Cumulatively, this week's fundraising efforts amount to $39.10 million.
MicroStrategy made headlines by acquiring an additional 11,931 BTC for approximately $786 million at an average price of $65,883 per bitcoin. This move underscores their ongoing bullish stance on Bitcoin.
Japanese gaming giant Konami has chosen the Avalanche blockchain to power its Resella NFT platform, signaling a significant endorsement of Avalanche's capabilities in the NFT space.
Particle Network, a developer focused on chain abstraction technology, successfully raised $15 million in a Series A funding round. This funding will likely accelerate their modular blockchain solutions.
AI tokens have surged, buoyed by Nvidia's positive momentum. Fetch.ai has seen a 40% increase over the past month, while Render Network is up nearly 30%.
Finally, VanEck's spot Bitcoin ETF has gone live on the Australian Securities Exchange (ASX), marking a notable milestone for Bitcoin investment products in Australia.
