Cryptocurrency Market Update: Layer 2 TVL Drops to $7.98B as Bitcoin Dips Below $100K

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Jan 27, 2025 — 1 min read

The cryptocurrency market is currently experiencing a downturn, with total value locked (TVL) on Layer 2 solutions dropping to $7.98 billion, down from $8.44 billion yesterday. This decline reflects a broader trend across the top Layer 2 networks.

Top-5 Layer 2 Networks' TVL

Base: $3.48B, down 6.48% from yesterday.
Arbitrum: $2.91B, down 4.31% from yesterday.
Mantle: $447.59M, down 3.98% from yesterday.
Blast: $323.22M, down 5.09% from yesterday.
Linea: $272.86M, down 6.85% from yesterday.

Current Prices

Bitcoin's price has fallen below the $100,000 mark, currently sitting at $101,362, down from $102,989 yesterday. Ethereum follows suit, trading at $3,130, down from $3,242.

Fundraising Activity

As it is the weekend, total funding data is not available today. However, cumulative fundraising for the current week stands at $33.50 million. Notable fundraising activities include the recent success of the Humanity Protocol, which raised enough capital to reach a valuation of $1.1 billion.

Recent Developments

In significant market news, MicroStrategy has made headlines by purchasing an additional $1.1 billion in Bitcoin. This move comes alongside the company's plans for early redemption of convertible notes and an increase in the amount of authorized common shares, indicating a strong commitment to Bitcoin.

On the merchant side, Codego has launched its innovative Cryptogateway solution, aiming to revolutionize digital payments for merchants worldwide. This new platform is designed to enhance both in-person and remote transactions, setting a new standard in payment technology.

In the tech sector, recent developments have led to a selloff in U.S. tech stocks, which has impacted Bitcoin and other cryptocurrencies. The AI space also saw a shakeup with DeepSeek's rise to the top of the U.S. App Store, dethroning ChatGPT, as it offers unlimited use of its reasoning model for free.

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