Cryptocurrency Market Sees Dynamic Shifts; Bitcoin and Ethereum Prices Surge
Cryptocurrency Market Update
The cryptocurrency market is showing dynamic shifts, with the Total Value Locked (TVL) on L2 Beat currently at $8.18 billion, up from $7.98 billion yesterday. Arbitrum leads the pack among L2 networks with a TVL of $2.65 billion, a slight increase from 2.56% yesterday. Base follows with $1.35 billion, a significant drop from 4.14%. Blast records $1.18 billion, down from 1.40%, while Linea and Optimism have $673.56 million and $628.72 million, respectively, showing declines from 1.67% and 2.06%.
Bitcoin (BTC) is trading at $57,321, up from $56,763 yesterday. Ethereum (ETH) also saw an uptick, currently priced at $3,021, compared to $2,989 the previous day.
In fundraising news, today's total funding stands at $1.60 million, with XOOB securing the entire amount. This brings the cumulative fundraising for the week to $620.39 million.
Google's new AI training technique, dubbed JEST, is making waves by being up to 13 times faster and 10 times more efficient. This could lead to lower energy demands and faster AI advancements. SingularityNET CEO Ben Goertzel highlights how AI is paving the way to a transhumanist future, enabling humans to progress at unprecedented rates.
Bitcoin ETF investors took advantage of the dip last Friday, with inflows exceeding $140 million. This activity comes after U.S. traders returned from the July 4 break, facing a roughly 10% drop in prices from pre-holiday levels.
However, the crypto market is not without its challenges. According to researchers, losses to hacks and exploits have doubled in the first half of the year, reaching $1.4 billion. The rising crypto prices seem to be fueling this trend, providing more motivation for malicious actors.
In political news, Multicoin Capital has pledged to match up to $1 million in SOL donations for crypto-friendly Senate candidates. Donations can be made in SOL tokens on the super PAC's website.
