Cryptocurrency Market Update: Bitcoin Hits $100K, Layer 2 TVL Reaches $11B Amid Major Trends
The current landscape of the cryptocurrency market is marked by significant developments and shifting trends. As of now, the total value locked (TVL) across Layer 2 networks stands at $11.01 billion, a slight increase from $11.00 billion yesterday.
Breaking down the top five Layer 2 networks by TVL:
- Base: Current: $4.07 billion, Change: +0.62%
- Arbitrum: Current: $3.43 billion, Change: +0.17%
- Optimism: Current: $825.33 million, Change: -0.70%
- Blast: Current: $647.70 million, Change: -1.61%
- Mantle: Current: $544.63 million, Change: +3.13%
Bitcoin's price has surged, currently sitting at $100,132, up from $99,941 yesterday. Ethereum, however, has seen a slight decline, now priced at $3,994, down from $4,007.
In recent news, the U.S. Treasury has officially recognized Bitcoin as 'Digital Gold' following its explosive price growth. This year, Bitcoin's price has more than doubled, capturing the attention of both investors and mainstream finance. The crossing of the $100,000 mark signifies a historic moment in the crypto space, transitioning from a cypherpunk dream to a financial mainstream asset.
El Salvador's President recently announced that the nation has realized gains exceeding $300 million from its Bitcoin investments, coinciding with Bitcoin's recent milestone.
On the regulatory front, the Czech Republic has taken proactive steps by passing a three-year crypto tax break aimed at attracting high-value investments and establishing itself as a blockchain hub.
In terms of fundraising, it is a quiet weekend with no significant rounds reported today. However, the cumulative fundraising for the current week has reached $242.73 million.
In a notable political appointment, President-elect Donald Trump has named Silicon Valley investor David Sacks as his 'White House AI and Crypto Czar', signaling a potential shift in how cryptocurrency and technology may be approached at the governmental level.
