Cryptocurrency Market Update: Bitcoin Soars to $91K, Layer 2 TVL Drops to $9.52B
The cryptocurrency market is experiencing notable fluctuations as of today. The total value locked (TVL) on Layer 2 networks stands at $9.52 billion, a slight decrease from $9.53 billion yesterday.
Among the top five Layer 2 networks, Base leads with a TVL of $3.08 billion, marking a daily increase of 2.61%. Arbitrum follows with $2.82 billion, reflecting a decrease of 1.41%. Optimism has a TVL of $741.96 million, down 3.31%. Blast shows a TVL of $648.64 million, down 2.84%, and Mantle rounds out the top five with $606.94 million, decreasing by 3.90%.
In terms of market prices, Bitcoin has surged to $91,643, up from $87,890 yesterday. Meanwhile, Ethereum is trading at $3,324, an increase from $3,249.
On the fundraising front, a total of $50 million was raised today. The largest rounds include Notabene with $14.5 million, Moca securing $10 million, and BNB also raising $10 million. The cumulative fundraising for the week has reached $92.45 million.
Notable news includes MicroStrategy driving returns in the $310 billion market for US convertible bonds, fueled by Bitcoin's recent rally. CEO Brian Armstrong of Coinbase emphasized that using crypto sometimes involves challenging government overreach to enhance economic freedom.
In a significant development, Zero Gravity Labs has secured $290 million in financing for its decentralized AI operating system, comprising a $40 million seed round and an additional $250 million in liquid funds.
Furthermore, Genius Group has seen its stock rise as it plans to hold Bitcoin as a reserve asset, aiming for the coin to constitute 90% of its treasury. Looking ahead, a potential win for Trump could lead to pro-crypto regulations, possibly pushing Bitcoin toward $100,000 by early 2025, according to the head of research at Copper.
