Cryptocurrency Market Update: TVL Shifts, Bitcoin Boost, and New Blockchain Ventures
The cryptocurrency market is experiencing a dynamic phase with significant movements across various metrics. The Total Value Locked (TVL) on Layer 2 (L2) solutions, as reported by L2 Beat, stands at $8.05 billion, down from $8.21 billion yesterday.
Among the top L2 networks, Arbitrum holds the highest TVL at $2.69 billion, though it saw a slight decrease of 0.86% from yesterday. Base's TVL is $1.51 billion, showing a minimal increase of 0.03%. Blast has a TVL of $850.32 million, a decrease of 0.88%. Scroll's TVL rose by 0.64% to $679.92 million, while Optimism saw a decline of 1.38%, bringing its TVL to $602.59 million.
Bitcoin (BTC) is currently priced at $59,648, up from $59,129 yesterday. Ethereum (ETH) also saw a price increase, now trading at $2,606, compared to $2,579 yesterday.
In terms of fundraising, today's total stands at $31.70 million. GenLayer and Sorella each secured $7.50 million, while Corn raised $6.70 million. Over the current week, cumulative fundraising reached $167.20 million.
Recent news has also stirred the market. Bitcoin received a brief boost after the U.S. revised its employment growth figures lower, revealing a decrease of 818,000 jobs for the 12 months ending in March 2024. This revision provided a temporary lift to BTC prices.
BNB is facing bearish sentiment due to a new class-action lawsuit against Binance. This legal challenge has cast a shadow over BNB's price recovery, causing concern among investors.
In the blockchain space, Story has raised $80 million at a $2.25 billion valuation. The startup aims to build a blockchain dedicated to managing content IP in the AI era, addressing issues faced by giants like Anthropic and OpenAI.
The Aptos Foundation is expanding its ecosystem through a partnership with the Web3 streaming platform Myco. This collaboration is set to enhance decentralized streaming services and support the upcoming launch of Aptos' native token.
Tether is making headlines with its plan to launch a dirham-backed stablecoin in partnership with the UAE’s Phoenix Group and Green Acorn Investments. This initiative aims to facilitate international trade and remittances, leveraging the stability of the dirham.
