Cryptocurrency Market Update: L2 TVL Hits $10.01B, Bitcoin Dips, Major Fundraising News
The cryptocurrency market is experiencing dynamic shifts, with significant movements in Total Value Locked (TVL) on Layer 2 (L2) platforms and notable fundraising activities. As of today, the total TVL on L2 Beat stands at $10.01 billion, up from $9.84 billion yesterday.
Arbitrum leads the L2 networks with a TVL of $3.15 billion, reflecting a 0.21% increase from yesterday. Base follows with $1.73 billion, up by 2.05%. Blast, however, saw a decline of 0.86%, bringing its TVL to $1.32 billion. Optimism's TVL rose by 1.83%, reaching $770.74 million, while Linea experienced a slight drop of 0.24%, settling at $725.63 million.
Bitcoin's price has dipped to $63,526 from $64,186, while Ethereum's price has slightly decreased to $3,388 from $3,397.
Today's fundraising activities are headlined by Oh Gamers, which secured $3 million. This contributes to a cumulative fundraising total of $78.85 million over the current week.
In other news, DeFi Technologies has doubled its Bitcoin treasury holdings and added Solana and Core to its balance sheet, describing them as “complements” to Bitcoin.
Protocol Village has announced that Bitrue Ventures is launching a $40 million fund aimed at nascent Web3 companies, covering the latest in blockchain tech upgrades, funding announcements, and deals for the period of July 18-24.
Monad Labs has raised $225 million, led by Paradigm, to advance discussions on parallelized EVM chains with insights from MonadBFT.
MeromAI, a decentralized, human-powered AI platform, incentivizes community participation by rewarding contributors with $AIMR tokens. Founded in 2023, MeromAI aims to democratize AI by rewarding efforts in curating high-quality datasets and providing computing power.
Germany's $2.8 billion Bitcoin sell-off has been labeled as "market intervention" despite murky legal justifications. Experts suggest that the law does not mandate a sell-off but merely provides an opportunity, with some alleging that the handling of this sell-off influenced the market.
