Cryptocurrency Market Sees Shifts in Layer-2 TVL, Bitcoin Miners Signal Bull Market
The cryptocurrency market is experiencing dynamic changes, with notable shifts in the Layer-2 (L2) ecosystem and broader market movements.
The total value locked (TVL) on L2 Beat currently stands at $8.21 billion, up from $8.03 billion yesterday. This increase underscores growing interest and investment in L2 solutions.
Among the top-5 L2 networks, Arbitrum leads with a TVL of $2.72 billion, reflecting a slight decrease from its previous day's growth rate of 2.21%. Base follows with a TVL of $1.51 billion, down from a 1.76% increase yesterday. Blast has a TVL of $857.87 million, showing minimal growth from 0.32%. Scroll and Optimism have TVLs of $675.57 million and $611.05 million, respectively, with Scroll showing a notable decrease from 3.93% and Optimism from 3.63% growth yesterday.
Bitcoin (BTC) is currently priced at $58,776, down from $59,384 yesterday. Ethereum (ETH) follows a similar trend, priced at $2,576 compared to $2,631 yesterday.
In the fundraising arena, today's total funding reached $47.00 million. Fabric Cryptography led the pack with a $33.00 million round, followed by BiFinance at $10.00 million, and Soulbound at $4.00 million. The cumulative fundraising over the current week stands at $57.70 million.
New data from CryptoQuant indicates that Bitcoin miners have ended their capitulation phase, signaling the early stages of a potential bull market. Reduced selling pressure from miners and stable BTC prices are key indicators of this trend.
In other news, the Nethermind Starknet Grants Program has partnered with Olas to advance decentralized knowledge. The Olas Foundation will receive a €100,000 grant to support its protocol.
Mantra, a Layer 1 blockchain, aims to bring real-world assets (RWAs) onchain. According to a recent McKinsey & Company report, the market for tokenized assets could reach a total capitalization of approximately $2 trillion by 2030. Mantra focuses on providing standardization in tokenization, catering to financial service businesses.
Additionally, BadgerDAO's founder has pitched Corn, an Ethereum Layer-2 solution using Bitcoin as gas. The new Bitcoin-centric DeFi network has announced a $6.7 million fundraise led by Polychain Capital.
Io.net has partnered with Chainbase to foster AI and blockchain innovation. This strategic partnership aims to enhance Io.net's Theia cryptocurrency world model and prepare for the CBT token launch.
