Cryptocurrency Market Soars: L2 Networks Hit $10.81B TVL as Bitcoin and Ethereum Surge!
The cryptocurrency market is currently experiencing notable activity, particularly in the layer-2 (L2) sector. The total value locked (TVL) across L2 networks has risen to $10.81 billion, up from $10.74 billion yesterday. This uptick indicates a growing interest in scaling solutions.
Breaking down the top five L2 networks, Base leads with a TVL of $4.13 billion, reflecting a minor increase of 0.21% from the previous day. Arbitrum follows with $3.46 billion, gaining 1.23%. Optimism shows a TVL of $813.12 million, up 1.78%. Blast and Mantle round out the list with $573.74 million and $514.65 million, respectively, the latter seeing a notable increase of 4.88%.
In terms of market prices, Bitcoin (BTC) has surged to $108,028, a rise from $105,752 yesterday. Similarly, Ethereum (ETH) is trading at $4,016, up from $3,990.
On the fundraising front, today’s total funding reached $599.90 million. The biggest round comes from Riot, which secured $594.40 million. Other notable fundraising efforts include Juicyway with $3.00 million and Andrena (DAWN) at $2.50 million. This week’s cumulative fundraising stands at $599.90 million.
In significant news, MicroStrategy has expanded its Bitcoin holdings by acquiring an additional 15,350 BTC for approximately $1.5 billion. This purchase, made between December 9 and December 15, brings MicroStrategy's total Bitcoin stash to 439,000 BTC, valued at over $45 billion. Co-founder Michael Saylor confirmed the average purchase price for their Bitcoin is around $100,386 per coin.
Meanwhile, Tether is backing the European stablecoin firm StablR, providing its tokenization tech amid uncertainties surrounding USDT. Additionally, Ripple is set to launch its dollar-pegged stablecoin, RLUSD, on Tuesday, following a significant surge in XRP prices.
In other developments, Softbank has announced a massive $100 billion investment in US AI infrastructure, signaling a strong interest in tech integration. Furthermore, the Avalanche blockchain has completed its largest upgrade to date, named Avalanche9000, enhancing its capabilities and performance.
