Cryptocurrency Market Update: Layer 2 TVL Drops, Bitcoin and Ethereum Prices Fall Amid Cybersecurity Alerts

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Nov 24, 2024 — 1 min read

The cryptocurrency market is experiencing a slight downturn as the total value locked (TVL) on Layer 2 networks stands at $9.75 billion, a decrease from $9.85 billion yesterday. This decline reflects a broader trend in the market, as seen in the top five Layer 2 networks.

Layer 2 Networks Overview

Base: Current TVL: $3.29B, Yesterday: -0.84%
Arbitrum: Current TVL: $3.05B, Yesterday: -0.34%
Optimism: Current TVL: $766.46M, Yesterday: -2.12%
Mantle: Current TVL: $593.52M, Yesterday: -1.02%
Blast: Current TVL: $586.31M, Yesterday: -1.17%

Market Prices

Bitcoin (BTC) is currently priced at $97,099, down from $97,700 yesterday. Ethereum (ETH) is also seeing a decline, with its current price at $3,329, down from $3,399.

Funding Activity

As it is the weekend, total funding data is not available. However, cumulative fundraising over the current week has reached $1.14 billion.

Recent News Impacting the Market

In a significant cybersecurity incident, 8,100 banks and financial institutions are on high alert following a major data breach linked to Finastra. The breach was revealed on the dark web, raising concerns about sensitive information exposure.

In other news, billionaire Warren Buffett has made headlines by investing $752 million into new assets after divesting from Apple and Bank of America. This strategic shift by Berkshire Hathaway indicates a potential change in investment focus.

On the technological front, Google's recent breakthrough in AI is bringing quantum computing closer to practical applications. This could have far-reaching implications for various sectors, including finance and technology.

In the gaming sector, FIFA and Mythical Games have teamed up to launch the blockchain game FIFA Rivals. The CEO of Mythical, John Linden, believes this could draw over 100 million gamers into the Web3 ecosystem.

Lastly, the SEC's enforcement actions in the cryptocurrency space have reached a record $8.2 billion for 2024, driven by crypto fraud penalties. The agency has also allocated $345 million to harmed investors this year, emphasizing its commitment to investor protection.

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