Cryptocurrency Market Update: Layer 2 Growth, Bitcoin Dips, and Major Fundraising Hits
The cryptocurrency market is experiencing notable shifts as we head deeper into the week. The total value locked (TVL) across Layer 2 networks has seen a slight increase, now standing at $10.09 billion, up from $10.06 billion yesterday.
Among the top five Layer 2 networks, Base leads with a TVL of $3.62 billion, reflecting a modest increase of 0.45%. Following closely is Arbitrum with $3.14 billion, which has grown by 0.59%. Optimism holds a TVL of $773.70 million, marking a rise of 0.76%. Blast and Mantle round out the top five with TVLs of $616.94 million and $509.98 million, experiencing minor changes of 0.16% and a decrease of -0.88%, respectively.
In the broader market, Bitcoin's price has dipped to $94,784 from $95,662 yesterday. Ethereum follows suit, currently priced at $3,559, down from $3,637. Despite these fluctuations, Bitcoin remains in the spotlight as it recently hit a record high of $99,595. Analysts are optimistic, with some placing a target of $100,000 on the horizon, fueled by a remarkable $6 billion in inflows to Bitcoin ETFs.
Today's fundraising efforts have totaled $161.53 million, with significant contributions coming from Public at $135 million, followed by Brighty at $10 million and BLIFE Protocol at $7 million. This week alone has seen a cumulative fundraising total of $161.53 million, showcasing a robust interest in crypto projects.
In news that highlights innovation, Chromia has completed its Asgard Mainnet Upgrade, enhancing its infrastructure for DeFi and AI applications. Additionally, Franklin Templeton has launched a verification system on Jiritsu for tokenized funds, paving the way for retail tokens backed by their EZBC and FOBXX funds.
Tezos has also made headlines with the launch of the world's first uranium marketplace on blockchain, responding to the rising demand from AI applications and data centers. Meanwhile, Microsoft faces a pivotal decision as shareholders prepare to vote on whether to add Bitcoin to its balance sheet, a move that could either align with the growing crypto wave or pose significant risks.
