L2 Networks TVL Drops to $8.02B as Bitcoin Rises and BlackRock Tops Grayscale
The cryptocurrency market has seen notable shifts in recent days. The Total Value Locked (TVL) on Layer 2 (L2) networks, as reported by L2 Beat, has dropped from $8.17B yesterday to $8.02B today.
Among the top L2 networks, Arbitrum leads with a TVL of $2.66B, reflecting a -1.74% change from yesterday. Base follows with $1.47B, down by -1.47%. Blast has $856.04M, marking a -2.12% decline. Scroll's TVL stands at $637.59M, a decrease of -2.67%, while Optimism holds $587.36M, also down by -1.74%.
Bitcoin's price has seen a slight uptick, currently at $58,128 compared to yesterday's $57,644. Ether, however, has seen a minor dip, now priced at $2,570 from $2,574.
In the fundraising sphere, today's total funding amounts to $61.50M. The biggest rounds include Chaos Labs with $55.00M, Orderly Network securing $5.00M, and Goldilocks raising $1.50M. This brings the cumulative fundraising over the current week to $198.90M.
News highlights include Bitcoin's price stalling as gold hits an all-time high of $2.5K. Despite Bitcoin's sideways price movement, South Korea's National Pension Service (NPS) has made a strategic move by investing $34M in MicroStrategy, signaling traditional finance's growing interest in Bitcoin.
JPMorgan analysts report that Bitcoin mining profitability has hit record lows in August, with the market cap of fourteen publicly listed mining stocks tracked by the bank falling 18% since the end of last month.
Epic Games has launched its mobile store, now available on Android globally and on iOS within the EU, indicating a significant expansion in the gaming sector.
Lastly, BlackRock has surpassed Grayscale as the largest holder of Bitcoin and Ether in publicly traded funds, marking a significant shift in the market dynamics.
