Cryptocurrency Market Update: Bitcoin Dips, Layer 2 TVL Rises, and Major Fundraising News
The cryptocurrency market is currently experiencing a mix of stability and volatility. The total value locked (TVL) across Layer 2 networks has seen a slight increase, now sitting at $6.09 billion, up from $6.08 billion yesterday. The leading Layer 2 networks are showing varied performance.
- Base: Current TVL is $2.85 billion, down 0.19% from yesterday.
- Arbitrum: Current TVL is $2.48 billion, up 0.72%.
- Mantle: Current TVL is $227.36 million, increasing by 0.25%.
- Linea: Current TVL is $148.96 million, down 0.89%.
- Blast: Current TVL is $121.89 million, up 0.49%.
In the broader market, Bitcoin's price has dipped to $81,595, down from $84,095 yesterday. Ethereum is also down, now trading at $1,889, a drop from $1,930.
On the fundraising front, today’s total funding reached $36.30 million, with notable rounds including:
- Slingshot: $16.00 million
- EPHYRA (formerly GameBeast): $10.50 million
- PlaysOut: $7.00 million
This brings the cumulative fundraising for the week to $61.30 million.
In the news, Bitcoin has been fluctuating around $82,000 as U.S. spot Bitcoin ETFs recorded their highest daily net inflows in six weeks, totaling $274.6 million. However, this spike has led to only a brief rally, with prices reversing early in Tuesday trading.
In tech developments, AMD's CEO Lisa Su is in China promoting AI chip compatibility with DeepSeek's models, showcasing the company’s infrastructural support for AI advancements. Meanwhile, iAgent has secured $3 million to launch $AGNT, aiming to introduce a new ERC-** standard for decentralized AI agents.
In other news, BlackRock's BUIDL, Superstate, and Centrifuge have won a significant share of Spark's $1 billion tokenized asset windfall. On the regulatory front, Bernstein analysts have given a bullish outlook on Coinbase stock, predicting over 60% upside amid improving crypto regulatory clarity in the U.S.
