Cryptocurrency Market Update: Layer 2 TVL Drops to $6.30B Amid Mixed Signals and Bitcoin Rises

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Mar 7, 2025 — 1 min read

The cryptocurrency market is currently experiencing mixed signals as the total value locked (TVL) in Layer 2 networks has dropped to $6.30 billion, down from $6.49 billion yesterday. This decline reflects the ongoing volatility in the crypto space.

Layer 2 Networks Overview

Among the top five Layer 2 networks, the TVL figures are as follows:

Base: $2.82 billion (down 2.86% from yesterday)
Arbitrum: $2.60 billion (down 2.10% from yesterday)
Mantle: $271.15 million (down 2.26% from yesterday)
Linea: $171.91 million (down 12.97% from yesterday)
Blast: $159.64 million (down 4.09% from yesterday)

Current Prices

In the broader market, Bitcoin (BTC) has seen a slight increase, currently priced at $90,855, up from $90,206 yesterday. Ethereum (ETH) has also risen, now trading at $2,230, compared to $2,203 the previous day.

Funding Activity

Today's fundraising efforts in the crypto sector totaled $67.30 million, with notable rounds including:

DoubleZero: $28 million
Validation Cloud: $15 million
August: $10 million

This brings the cumulative fundraising for the week to an impressive $325.23 million.

Recent News Highlights

In a controversial move, U.S. President Donald Trump’s cryptocurrency project has made headlines by earning $350 million within just 18 days of launching its memecoin, $TRUMP. Experts have criticized this project as a "terrible example," given its lack of practical application.

Meanwhile, the establishment of a strategic Bitcoin reserve has been praised for solidifying Bitcoin's status as "digital gold." This initiative distinguishes BTC from altcoins, fulfilling a campaign promise without using taxpayer funds.

On a different note, the crypto space faced a setback as 1inch reported a $5 million hack due to a vulnerability in outdated smart contracts. The team assured users that their assets remained safe.

As the market evolves, developments in AI and technology continue to influence the crypto landscape. Tencent has launched a new open-source AI video-generation product, intensifying competition in China.

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