Cryptocurrency Market Update: Layer 2 TVL Drops to $9.08B Amid Bitcoin and Ethereum Declines

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Cryptocurrency Market Update: Layer 2 TVL Drops to $9.08B Amid Bitcoin and Ethereum Declines

The current landscape of the cryptocurrency market shows a notable decline in total value locked (TVL) across Layer 2 networks. As of now, the total TVL on L2 Beat stands at $9.08 billion, down from $9.27 billion yesterday.

Breaking down the top five Layer 2 networks, we see:

  • Base: Current TVL: $3.57 billion (Yesterday: -2.48%)
  • Arbitrum: Current TVL: $2.93 billion (Yesterday: -1.56%)
  • Optimism: Current TVL: $728.62 million (Yesterday: -2.80%)
  • Mantle: Current TVL: $457.04 million (Yesterday: -1.60%)
  • Blast: Current TVL: $437.82 million (Yesterday: -1.42%)

The price of Bitcoin (BTC) is currently at $92,343, a drop from $95,174 yesterday. Ethereum (ETH) is also down, currently priced at $3,239, compared to $3,333 yesterday.

In terms of fundraising activities today, the total funding reached $15.73 million. The biggest rounds include:

  • SoSoValue: $15.00 million
  • Yiedl: $735,000

For the current week, cumulative fundraising totals $82.44 million.

In recent news, Microsoft has announced a significant investment of $3 billion to expand its AI and cloud operations in India. This initiative includes plans to train 10 million individuals by 2030 and support local AI startups.

Meanwhile, Standard Chartered has made a move into the crypto space by debuting new services in Europe after obtaining a digital asset license under the MiCA framework.

In a major development for blockchain finance, Mantra and Damac Group have signed a $1 billion deal to tokenize assets in the Middle East, marking a significant step for real-world asset tokenization in the region.

Fetch.ai has also launched a $10 million accelerator program aimed at empowering startups focused on AI agents, quantum computing, and high-performance technology.

On the regulatory front, Coinbase has received a subpoena from the CFTC amid the ongoing Polymarket investigation. This raises concerns regarding user data disclosure and the broader implications for privacy in the crypto space.

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