Latest Crypto Market Update: Layer 2 TVL, Stable Prices, Security Alerts, and Banking News
The cryptocurrency market is currently experiencing a mixed bag of developments, with minimal changes in the prices of major digital assets and significant news impacting the broader ecosystem. Here's a detailed look at the latest data and news shaping the market.
Total Value Locked (TVL) on Layer 2 Networks
The total TVL on L2 Beat stands at $9.45 billion today, showing a slight increase from yesterday's $9.39 billion. The top-five Layer 2 networks' TVL are as follows:
- Arbitrum: $2.90 billion, up 0.79% from yesterday.
- Blast: $1.97 billion, down 0.52% from yesterday.
- Base: $1.59 billion, up 0.50% from yesterday.
- Optimism: $697.83 million, up 0.43% from yesterday.
- Linea: $681.87 million, up 1.45% from yesterday.
Cryptocurrency Prices
The prices of major cryptocurrencies have remained relatively stable over the past 24 hours:
- Bitcoin (BTC): $64,159, slightly down from $64,240 yesterday.
- Ethereum (ETH): $3,483, slightly down from $3,495 yesterday.
Fundraising Activity
Today's fundraising activity in the crypto space has been nonexistent, with total funding amounting to $0. The cumulative fundraising over the current week also stands at $0.
Security Incident
CoinStats has issued a warning to its users to move funds from wallets created on their platform following a security incident. Hackers reportedly attempted to trick users into installing malicious software on their mobile devices through a scam notification.
Market Sentiment and Predictions
Macro investor Luke Gromen has highlighted an Argentina-style inflationary period underway, suggesting that money is fleeing to gold, Bitcoin, and stocks. Gromen believes that due to inflationary pressures, capital will likely rotate from the bond market into these risk assets.
Tokenization Market Forecast
McKinsey & Company has predicted that the market cap of real-world tokenized assets could grow to $2 trillion by 2030. Their latest report outlines a range from $1 trillion to $4 trillion, showcasing the potential growth of the real-world asset (RWA) tokenization sector.
Banking Sector Developments
A new class-action lawsuit accuses a major US bank of failing to properly investigate and handle fraud claims, denying customers millions of dollars in reimbursement without any explanation. The proposed suit, filed by Leah Walton, highlights significant issues within the banking sector's handling of fraud claims.
In a more positive development, British banking giant Standard Chartered is reportedly set to launch a Bitcoin (BTC) and Ethereum (ETH) trading desk based in London. This move marks the bank's venture into the spot market crypto trading, according to anonymous sources familiar with the matter.
The cryptocurrency market continues to evolve with these developments, reflecting both the opportunities and challenges within the space.
