Layer-2 Crypto Market Surges to $7.13 Billion: Top Networks and Key Trends Explained
The current landscape of the cryptocurrency market is showing notable shifts, particularly in the layer-2 (L2) sector. As of now, the total value locked (TVL) across L2 networks has risen to $7.13 billion, up from $6.91 billion yesterday. This increase signals a growing interest in L2 solutions as they enhance scalability and reduce congestion on mainnet blockchains.
Breaking down the top five L2 networks by TVL:
- Base: Current TVL is $3.13 billion, reflecting a 2.28% increase from yesterday.
- Arbitrum: Currently at $2.85 billion, marking a rise of 4.91%.
- Mantle: TVL stands at $351.53 million, with a 2.99% increase.
- Blast: Currently at $234.23 million, showing a slight increase of 0.53%.
- Linea: TVL is $229.88 million, up by 1.81%.
In terms of cryptocurrency prices, Bitcoin (BTC) is currently trading at $95,881, down from $97,661 yesterday. Ethereum (ETH) is priced at $2,638, a drop from $2,736 the previous day.
On the fundraising front, today’s total funding reached $3.00 million, with the biggest round being Cabal at $3.00 million. Cumulatively, this week has seen a total of $50.05 million raised, indicating robust activity in the crypto fundraising space.
Recent news highlights include a significant surge in Robinhood's shares, attributed to a staggering 700% year-on-year increase in crypto revenue, resulting in a net income of $916 million for Q4. This performance exceeded industry expectations and led to a 17% rise in shares during after-hours trading.
In another noteworthy development, Franklin Templeton has launched a US government money fund on the Solana blockchain. This move leverages Solana’s capabilities and positions Franklin Templeton as a forward-thinking player in the crypto finance space, given its substantial $1.6 trillion in assets under management.
Additionally, there is a growing trend among US states to create strategic Bitcoin reserves, with at least 16 states introducing legislation in this area. This initiative follows the footsteps of President Trump, who has made promises regarding Bitcoin at the national level.
In tech news, Baidu is set to offer its Ernie Bot service for free, enhancing competition in China's AI market. Furthermore, OpenAI CEO Sam Altman has announced that GPT-5 is expected to launch within months, promising to unify various chatbot models into a cohesive system.
