Cryptocurrency Market Update: Layer 2 Gains, Bitcoin Rises, and Binance Faces Scrutiny
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Cryptocurrency Market Update
The current total value locked (TVL) across Layer 2 networks has seen a slight increase, now standing at $7.79 billion, up from $7.69 billion yesterday.
Top Layer 2 Networks
- Arbitrum: $2.52 billion (-0.61%)
- Base: $1.52 billion (+5.68%)
- Blast: $745.80 million (+0.78%)
- Scroll: $714.76 million (+0.95%)
- Optimism: $604.88 million (+1.97%)
Market Prices
Bitcoin (BTC) is currently priced at $59,629, a notable rise from $58,149 yesterday. Ethereum (ETH) is also on the upswing, now at $2,406, compared to $2,364 the previous day.
Fundraising Activity
In terms of fundraising, the total amount raised today is $26.20 million, with significant contributions from:
- Fuse: $12.00 million
- Infinit: $6.00 million
- Titan: $3.50 million
For the week, cumulative fundraising has reached $118.50 million.
Recent Developments
In regulatory news, the US government is intensifying pressure on Nigeria to release Binance executive Tigran Gambaryan, who is currently detained. This adds to the ongoing scrutiny surrounding Binance.
MicroStrategy continues its aggressive Bitcoin acquisition strategy, having purchased another $1.1 billion worth of BTC. This brings the company's total holdings to over $14 billion after four years of consistent buying.
Worldcoin has announced its integration of World ID into Solana through Wormhole, enabling developers to incorporate this feature into their applications.
On the regulatory front, the SEC has expanded its lawsuit against Binance, now targeting additional tokens such as AXS, FIL, and ATOM, labeling them as unregistered securities, which continues to shake the market.
Lastly, North Carolina has passed a new law to ban Central Bank Digital Currencies (CBDCs), although the legality of this legislation is being questioned.
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