Cryptocurrency Market Update: TVL Dips to $9.24B, Bitcoin Falls, and New Fundraising Insights
The current total value locked (TVL) in the cryptocurrency space has seen a slight decline, now standing at $9.24 billion, down from $9.56 billion yesterday. This shift reflects broader market trends affecting layer-2 networks.
Top 5 L2 Networks
- Base: Current TVL is $3.59 billion, a decrease of 4.06% from yesterday.
- Arbitrum: Current TVL is $3.00 billion, down 2.98%.
- Optimism: Current TVL is $743.43 million, down 1.73%.
- Blast: Current TVL is $459.59 million, down 4.19%.
- Mantle: Current TVL is $456.31 million, down 4.02%.
Current Market Prices
Bitcoin (BTC) has dipped to $95,282, down from $99,239 yesterday. Ethereum (ETH) follows suit, currently priced at $3,335, down from $3,491.
Fundraising Activity
Today, the cryptocurrency sector saw a total funding amount of $2.00 million, with the largest round being for Swan Chain at $2.00 million. Cumulatively, the week has brought in $34.62 million in fundraising.
Market Insights
Recent Bitcoin derivatives data suggests that bulls are gearing up for a potential rally, aiming to push BTC back above $100,000. Analysts are optimistic, with predictions hinting at a rise to $105,000.
In a notable development, the Finance Minister of Russia announced that several Russian companies have begun utilizing Bitcoin for foreign trade, a move aimed at circumventing Western sanctions.
On the operational front, Crypto.com has unveiled a new custody service designed for high-net-worth clients in the US and Canada, expanding its service offerings in the digital asset space.
Additionally, MoonPay is reportedly considering a significant acquisition of the crypto payments firm Helio, with a price tag of $150 million.
In a surprising market movement, Bitget Token (BGB) has surged to a market cap nearing $7.87 billion, driven by an impressive 844% rally this year.
