Cryptocurrency Market Update: Layer 2 Networks Rise, Bitcoin Hits New High, and Major Fundraising News
The cryptocurrency market is currently experiencing notable shifts, with total value locked (TVL) on Layer 2 networks reaching $9.55 billion, a slight increase from yesterday's $9.50 billion. The leading Layer 2 networks are showing varied performance in their TVL metrics.
Top Layer 2 Networks' TVL
- Base: Current: $3.75 billion, Yesterday: +0.48%
- Arbitrum: Current: $3.06 billion, Yesterday: +0.19%
- Optimism: Current: $781.78 million, Yesterday: +1.18%
- Mantle: Current: $472.25 million, Yesterday: +0.60%
- Blast: Current: $455.42 million, Yesterday: -0.15%
Current Cryptocurrency Prices
Bitcoin (BTC) is currently priced at $96,906, up from $96,790 yesterday. Meanwhile, Ethereum (ETH) has seen a notable rise, with its price now at $3,522, compared to $3,446 yesterday.
Recent Fundraising Activity
Today, the cryptocurrency sector has seen a total fundraising amount of $20 million. The largest round was secured by Fold, which raised the full amount. Cumulatively, this week has brought in $22.3 million in funding.
Industry News
In a significant development, Blockstream launched the Jade Plus self-custody wallet on Bitcoin’s 16th birthday. This new wallet aims to enhance security, usability, and transparency for users looking to manage their Bitcoin independently.
Additionally, the U.S. government is preparing to unveil new regulations that may limit China's access to AI chips, a move that could impact the broader tech landscape, including the crypto sector.
Looking ahead, Bitcoin is gaining traction as a financial asset, with reports highlighting that 13 U.S. states are expected to adopt BTC reserves by 2025 to enhance economic resilience.
In a bullish forecast, Marathon Digital CEO Fred Thiel predicts that Bitcoin could reach $200,000 by the end of 2025, contingent on certain market conditions aligning with the political landscape.
On a different note, Terraform Labs co-founder Do Kwon, recently extradited from Montenegro, has pleaded not guilty to U.S. charges related to the collapse of Terra LUNA and UST, a case that continues to unfold in the courts.
