Cryptocurrency Market Update: Layer 2 TVL Dips as Bitcoin and Ethereum Prices Fall

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Feb 12, 2025 — 1 min read

The cryptocurrency market is currently experiencing fluctuations, with the total value locked (TVL) on Layer 2 networks showing a slight decline. The current TVL stands at $6.91 billion, down from $7.11 billion yesterday.

Top Layer 2 Networks

Base: Current TVL: $3.06 billion, Change: -3.12%
Arbitrum: Current TVL: $2.71 billion, Change: -1.79%
Mantle: Current TVL: $341.32 million, Change: -2.79%
Blast: Current TVL: $232.98 million, Change: -2.14%
Linea: Current TVL: $225.79 million, Change: -2.66%

Current Prices

Bitcoin (BTC) is trading at $95,546, a drop from $95,805 yesterday. Ethereum (ETH) is currently priced at $2,595, down from $2,605.

Fundraising Activity

Today, the total fundraising in the crypto sector reached $23.30 million. The biggest rounds include:

Legend: $15.00 million
Mirai Labs: $4.00 million
InfiniFi: $3.00 million

Over the current week, cumulative fundraising totals $47.55 million.

Market News

Goldman Sachs has made a significant move in the ETF space, boosting its Ethereum ETF holdings by over 2,000% to $476 million in Q4 2024. Additionally, its Bitcoin ETF position has more than doubled to $1.5 billion.

In regulatory news, former CFTC commissioner Brian Quintenz is set to lead the CFTC under Trump's administration. This appointment indicates a potential shift in the oversight of digital assets, impacting both Bitcoin and Ethereum.

Uniswap has launched its Layer-2 network, Unichain, on mainnet, which promises improved cross-chain liquidity. The UNI token has responded positively, reversing its recent losses.

On the security front, the US, UK, and Australia have coordinated sanctions against Zservers for hosting the LockBit ransomware, which has caused significant damage globally.

In international developments, the founder of DeepSeek, Liang Wenfeng, skipped a major AI summit in Paris, highlighting China's growing role in global AI discussions.

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