Crypto Market Update: TVL Shifts, Fundraising Surges, and Ethereum ETFs Launch
The cryptocurrency market is experiencing a dynamic phase, marked by notable shifts in Total Value Locked (TVL) on Layer 2 (L2) networks and significant fundraising activities.
As per L2 Beat data, the total TVL has slightly decreased from $10.30 billion yesterday to $10.23 billion today. Among the top L2 networks, Arbitrum leads with a TVL of $3.21 billion, reflecting a 1.23% decrease from the previous day. Base follows with $1.75 billion, down by 0.50%. Blast has a TVL of $1.30 billion, marking a 0.57% decline. Scroll stands at $773.67 million, showing a minor increase of 0.01%. Optimism rounds out the top five with $767.15 million, down by 0.43%.
In the broader market, Bitcoin (BTC) is currently priced at $66,521, down from $67,584 yesterday. Ethereum (ETH) shows a slight uptick, trading at $3,454 compared to $3,444 the previous day.
Today's fundraising activities have been robust, with a total of $24.00 million raised. The most significant round was secured by B3 fun, which raised $21.00 million. MetaBeat followed with a $3.00 million round. This brings the cumulative fundraising for the current week to $35.00 million.
In other news, the much-anticipated spot Ethereum ETFs have launched, with major players like BlackRock and Fidelity vying for market dominance. This development is expected to bring more institutional investors into the Ethereum ecosystem.
SingularityNET has allocated $53 million towards the development of an AI 'Supercomputer' and new data centers. This investment aims to support research in artificial general intelligence (AGI).
Aethir and APhone have unveiled a 10x scaling solution that promises to slash mobile user costs by 90%. This strategic partnership is set to enhance the user experience for decentralized smartphone users, enabling faster Web3 native mobile apps through Aethir Edge technology.
Vitalik Buterin has introduced Circle STARKs, a new protocol designed to enhance blockchain security and efficiency using small-field cryptography. This breakthrough is expected to significantly improve the performance of blockchain networks.
Bitcoin investors are holding strong, as evidenced by BlackRock's iShares Bitcoin Trust (IBIT) pulling in $526.7 million in investor funds on July 22. This marks the highest single-day tally since March, showcasing continued confidence in Bitcoin.
