Cryptocurrency Market Sees TVL Drop, Bitcoin Dips, and Major Fundraising Updates
The cryptocurrency market is experiencing a notable shift. The total TVL on L2 Beat stands at $8.42B, down from $8.85B yesterday. Arbitrum leads the L2 networks with a TVL of $2.69B, reflecting a -3.56% change from the previous day. Base follows with $1.39B, showing a -7.49% drop. Blast holds $1.27B, down by -4.56%. Linea and Optimism report $704.02M (-4.41%) and $669.30M (-4.01%) respectively.
Bitcoin's price has dipped to $58,100 from $60,189, while Ethereum has fallen to $3,135 from $3,295. This decline led to a $100M liquidation in Bitcoin. Despite this, ETF investors have not engaged in panic selling, though a deeper correction could be on the horizon.
In fundraising news, today's total funding amounts to $11.50M. The largest rounds include QED Protocol securing $6.00M, Compute Labs raising $3.00M, and onaji obtaining $2.50M. The cumulative fundraising for the week stands at $613.85M.
Significant partnerships have been formed. IOTA and Tokeny have collaborated to integrate tokenization technology into IOTA's EVM. Maincard.io aims to reach a billion potential users through its participation in TON’s accelerator program, being one of the few selected from over 170 applicants.
Legal developments include an Illinois court recognizing Olympus (OHM) and KlimaDAO (KLIMA) as commodities. This supports the CFTC’s case against Jafia LLC, resulting in a $120 million fine.
Tangem has introduced a Visa-integrated crypto wallet, enhancing secure payment options for users. This development marks a significant step in the evolution of self-custodial wallets.
