Cryptocurrency Market Update: Bitcoin Surges, L2 Networks Grow, and $80M Fundraising Boosts Innovation
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The cryptocurrency market is experiencing notable movements, particularly in the realm of Layer 2 (L2) networks and major cryptocurrencies. As of now, the total value locked (TVL) on L2 Beat stands at $8.69 billion, a slight increase from $8.58 billion yesterday.
Focusing on the top five L2 networks, Arbitrum leads with a TVL of $2.60 billion, reflecting a modest growth of 0.65% from yesterday. Base follows closely with $2.03 billion, marking a more robust increase of 2.92%. Other networks include Scroll at $798.77 million (up 0.51%), Blast at $782.26 million (down 0.08%), and Optimism with $687.84 million (up 1.54%).
In the major cryptocurrency market, Bitcoin has surged to $65,292, up from $62,993 yesterday, following a streak of ETF inflows. Bitcoin spot ETFs recorded a net inflow of $106 million on September 25, marking five consecutive days of positive inflows, with BlackRock's ETF leading the charge with $184 million. Ethereum also saw an uptick, currently priced at $2,651, up from $2,574.
Today, the cryptocurrency fundraising scene is vibrant, with a total of $80.69 million raised. The largest round comes from Infinex, securing $65.29 million, followed by Initia at $14 million and EarthFast at $1.4 million. This week’s cumulative fundraising has reached $204.58 million.
In the realm of innovative projects, the article titled 5 AI-Driven Cryptos That Will Top the Market with 1,200% Returns by 2025 highlights the rising interest in AI-based cryptocurrencies. Notably, CYBRO is gaining traction among crypto whales, with its token presale exceeding $2.5 million, promising significant earning potential.
On the regulatory front, Tether's CEO, Paolo Ardoino, discussed the launch of a stablecoin pegged to the UAE Dirham, emphasizing its relevance in global trade. Additionally, Circle has unveiled a new ‘Compliance Engine’ aimed at assisting companies in building on-chain, reflecting a push towards regulatory compliance in the crypto space.
Meanwhile, Bitdeer Technologies reported a rise in its stock value following the successful testing of its latest Bitcoin mining chip, SEAL02, which showcases enhanced power efficiency.
As the market evolves, traders are preparing for increased volatility, especially with over $5.8 billion in Bitcoin quarterly options set to expire soon. Analysts predict that this could lead to significant market adjustments, particularly around the $65,000 strike price.
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