L2 Networks Drive TVL Surge to $10.17B as Bitcoin, Ethereum Prices Hold Steady
The Total Value Locked (TVL) on L2 Beat stands at $10.17 billion, up from $9.98 billion yesterday. This growth is driven by significant activity across the top Layer 2 (L2) networks.
Arbitrum leads with a TVL of $3.25 billion, a notable increase from yesterday's $2.89 billion. Base follows with $1.77 billion, up slightly from $1.76 billion. Blast shows a dramatic increase to $1.31 billion from $0.25 billion. Optimism's TVL is $784.48 million, rising from $1.82 million. Linea's TVL is $735.90 million, down from $1.97 million.
Bitcoin's price is currently at $66,816, slightly up from $66,745 yesterday. Ethereum's price is $3,503, a small dip from $3,507.
There is no fundraising activity today as it is the weekend. However, the cumulative fundraising over the current week totals $82.05 million.
In recent news, Binance has received permission to invest some customer assets in US Treasuries. A judge has also allowed Binance's US operator to engage third-party advisers to invest some assets.
Despite sanctions, Ethereum Mixer Tornado Cash has received almost $2 billion in 2024. However, activity has slowed in July, with the protocol attracting only $65.1 million worth of deposits this month, according to Flipside data.
Nvidia claims a breakthrough on the path to GPU-based quantum computing. Quantum annealing systems could significantly impact the finance and blockchain industries.
BlockFi will begin repayments to creditors this month through Coinbase as the collapsed crypto lender winds down and distributes assets.
South Korea's new regulations to protect user assets on crypto exchanges went into effect on July 19. These strict laws are enforced by South Korea’s watchdog.
