Cryptocurrency Market Update: Layer 2 Networks Surge to $10.74B, Bitcoin Hits $105K!
The cryptocurrency market is currently witnessing a notable shift, with the total value locked (TVL) on Layer 2 networks rising to $10.74 billion, up from $10.64 billion yesterday. This uptick reflects a growing interest in scalability solutions within the Ethereum ecosystem.
Among the top five Layer 2 networks, Base leads with a TVL of $4.13 billion, marking a significant increase of 1.47% from the previous day. Arbitrum follows closely with $3.42 billion, gaining 0.44%. Optimism shows a modest increase to $798.90 million with a 0.96% rise. Blast has seen a slight decrease, now at $563.65 million with a drop of -0.41%, while Mantle remains stable at $490.69 million, up by 0.43%.
In the broader cryptocurrency market, Bitcoin has surged to $105,528, up from $104,616 yesterday. Conversely, Ethereum has dipped slightly to $3,922 from $3,949.
Despite the weekend lull in fundraising activities, the cumulative fundraising for the week stands at $5.50 million. Major funding rounds are not available at this time.
In significant news, Exodus Movement has secured a listing on the NYSE American, highlighting Wall Street's growing acceptance of cryptocurrencies. This uplisting enhances visibility and strengthens ties with traditional finance.
Meanwhile, MicroStrategy has made headlines by acquiring 15,300 Bitcoin for $1.5 billion, bringing its total holdings to 439,000 BTC at an aggregate purchase price of $27.1 billion.
On the political front, reports suggest that President-elect Donald Trump is considering an executive order to establish a Strategic Bitcoin Reserve (SBR), as shared by Satoshi Action Fund CEO Dennis Porter.
In Europe, Societe Generale and Banque de France have completed a tokenized bond transaction on the Ethereum blockchain, marking a significant step in the adoption of blockchain technology in traditional finance.
As the cryptocurrency landscape evolves, developments like these indicate a growing integration of digital assets into mainstream finance, alongside increasing institutional interest.
