Cryptocurrency Market Update: Layer 2 TVL Hits $10.75B, Bitcoin Surges to $101K
The cryptocurrency market is experiencing notable activity as of today. The total value locked (TVL) across Layer 2 networks has reached $10.75 billion, a rise from $10.39 billion just yesterday.
Among the top five Layer 2 networks, Base leads with a TVL of $4.05 billion, reflecting a 2.90% increase. Arbitrum follows closely with a TVL of $3.42 billion, up by 4.57%. Optimism holds $798.09 million, marking a 3.82% rise, while Blast has a TVL of $602.26 million, increasing by 4.56%. Lastly, Mantle reports a TVL of $487.10 million, up by 4.93%.
In the market for major cryptocurrencies, Bitcoin (BTC) has reached a price of $101,672, up from $101,296 yesterday. Meanwhile, Ethereum (ETH) is trading at $3,980, showing an increase from $3,832.
Today's fundraising efforts in the crypto space have totaled $34.90 million, with the largest rounds being led by KAST at $10 million, followed by commonware at $9 million, and Sphere at $5 million. This brings the cumulative fundraising for the week to $409.14 million.
In industry news, Oddo BHF SCA is preparing to enter the burgeoning stablecoin market with plans for a euro-denominated stablecoin. This move comes as competition in the stablecoin sector intensifies.
MicroStrategy's Michael Saylor shared insights on Bitcoin's recent milestone of reaching $100,000. He emphasized that this achievement will attract the attention of the world's wealthy and powerful, indicating a growing acceptance of digital assets.
In a significant development, BlackRock has stated that a Bitcoin allocation of up to 2% is a 'reasonable range' for multi-asset portfolios, reinforcing Bitcoin's place in traditional finance.
On the regulatory front, Ukraine is on track to legalize cryptocurrencies by 2025, with plans to implement standard taxation rules without offering specific tax incentives.
Lastly, in technology news, Google has launched Gemini 2.0 Flash, an advanced AI model that enhances developer capabilities, potentially impacting various sectors, including finance and cryptocurrency.
