Cryptocurrency Market Update: Layer 2 TVL Rises to $8 Billion Amid Bitcoin and Ethereum Gains
The current state of the cryptocurrency market shows a slight uptick in total value locked (TVL) across layer 2 networks, now standing at $8.00 billion, up from $7.98 billion yesterday. Among the top five layer 2 networks, Base leads with a TVL of $3.43 billion, although it has seen a decrease of 1.31% since yesterday. In contrast, Arbitrum has gained 2.92%, bringing its TVL to $3.00 billion.
Other notable layer 2 networks include Mantle at $448.01 million (up 0.10%), Blast with $326.51 million (up 1.02%), and Linea at $273.62 million (up 0.28%).
In the broader market, Bitcoin has seen a price increase, currently trading at $102,676, up from $101,790 yesterday. Ethereum also experienced a rise, now priced at $3,176, up from $3,167.
Today’s fundraising efforts in the crypto space have totaled $50.90 million, with significant contributions from Humanity Protocol at $20 million, Fableborne at $12.40 million, and World Liberty Financial at $10 million. This brings the cumulative fundraising for the week to $50.90 million.
In the news, the UK government is considering selling a seized Bitcoin stash valued at $6.3 billion to alleviate a projected $25 billion economic shortfall. This potential move could significantly impact the market, as the sale of such a large amount of Bitcoin could influence price dynamics.
Meanwhile, DeepSeek is making waves in Malaysia and Southeast Asia by disrupting traditional data center investments. Experts caution that this could shift AI development priorities, potentially reducing demand for costly data centers in the region.
In a notable crossover of entertainment and technology, Hollywood writer David S. Goyer, known for his work on The Dark Knight and Blade, has launched an AI-powered crypto film universe. This innovative platform aims to revolutionize the film industry by integrating blockchain technology.
On the corporate front, MicroStrategy has proposed a 2.5 million share offering to fund further Bitcoin acquisitions. The company recently added $1.1 billion to its Bitcoin holdings, which now total 471,107 BTC.
Lastly, concerns are rising in the EU regarding the dominance of US dollar-pegged stablecoins, which currently make up 97% of the global stablecoin market. This follows former President Trump’s executive order aimed at reinforcing dollar dominance through stablecoins.
