Cryptocurrency Market Sees Mixed Trends: Bitcoin Forms Bullish Pattern, ETH Transfer Highlights
The cryptocurrency landscape has witnessed notable shifts recently, with key metrics reflecting a mix of stability and volatility. The Total Value Locked (TVL) on L2 Beat has seen a slight dip, moving from $10.01 billion yesterday to $9.89 billion today.
Among the top Layer 2 (L2) networks, Arbitrum leads with a TVL of $3.20 billion, despite a marginal decrease of 0.96% from the previous day. Base follows with a TVL of $1.70 billion, marking a 0.92% decline. Blast stands at $1.20 billion, showing a more significant drop of 1.51%. Scroll has a TVL of $769.53 million, with a minimal decrease of 0.09%. Optimism, although robust, saw a 2.37% reduction, bringing its TVL to $722.41 million.
Bitcoin (BTC) is currently priced at $67,662, down from $68,085 yesterday. Ethereum (ETH) is holding steady at $3,269, a slight increase from $3,258 the previous day.
Grayscale has made headlines by transferring 110,867 ETH, valued at approximately $358 million, to Coinbase Prime. This move, as reported by Arkham, suggests a strategic sale on the open market amidst Ethereum's price correction.
In other news, Swiss crypto bank Sygnum has reported profitability following a surge in trading volumes in the first half of the year, although specific figures were not disclosed.
The Federal Reserve has concluded its enforcement action against Silvergate Bank, following the bank's compliance with a $43 million fine and the liquidation of its reserves to repay all customer deposits.
On the tech front, Microsoft Bing has integrated AI into its search results, echoing a similar move by Google. This new feature, currently in limited release, aims to enhance user experience by organizing search results with AI-driven insights.
Bitcoin enthusiasts are closely watching the charts as BTC forms a 'massive' bullish wedge pattern, with traders eyeing a potential price surge to $85,000, representing a possible 25% increase from its current level.
Fundraising activity has paused over the weekend, with no new rounds reported. However, the cumulative fundraising for the current week stands at $210.51 million.
