Cryptocurrency Market Update: Layer-2 TVL Rises to $9.88B, Bitcoin and Ethereum Prices Surge
The cryptocurrency market is currently witnessing a slight uptick in total value locked (TVL) across layer-2 networks, with the overall TVL on L2 Beat now at $9.88 billion, a modest increase from $9.86 billion yesterday.
Among the top five layer-2 networks, Base leads with a TVL of $3.88 billion, experiencing a slight decline of 0.10% since yesterday. Arbitrum follows with a TVL of $3.18 billion, showing a positive change of 0.76%. Optimism stands at $813.75 million, reflecting a growth of 1.56%. Mantle and Blast hold TVLs of $488.14 million and $473.64 million, respectively, with Mantle up 1.15% and Blast up 0.71%.
In the broader market, Bitcoin (BTC) has seen a price increase, currently trading at $99,783, up from $98,364 yesterday. Ethereum (ETH) is also on the rise, now priced at $3,648, compared to $3,637 the previous day.
In corporate moves, MicroStrategy Inc. recently purchased $101 million worth of Bitcoin. This acquisition was facilitated through the issuance of perpetual preferred stock, alongside common shares and debt, further solidifying the company's commitment to Bitcoin. MicroStrategy continues its buying streak, with plans to expand its Bitcoin reserves significantly into 2025.
Additionally, the crypto landscape is evolving with emerging technologies. OpenAI CEO Sam Altman predicts that AI agents will start transforming industries by 2025, hinting at a significant shift in job dynamics. In a related development, WORLD3 has partnered with Microsoft for Startups to launch an AI Agent Portal, aiming to integrate AI into the Web3 ecosystem.
On the institutional side, analysts suggest that Bitcoin ETFs are resilient, with inflows expected to reach $70 billion by 2025. This optimism is fueled by growing institutional interest, a favorable regulatory environment in the US, and tightening supply dynamics.
As the weekend progresses, total fundraising activity remains unavailable, with a cumulative total of $4.00 million raised over the current week.
