Layer 2 Crypto Market Update: $9.39B TVL, Bitcoin Surges, and Major Fundraising News
The cryptocurrency market is currently experiencing notable activity, particularly in the Layer 2 (L2) sector. As of today, the total value locked (TVL) across L2 networks stands at $9.39 billion, slightly down from $9.40 billion yesterday.
Top Layer 2 Networks
Here’s a snapshot of the top five L2 networks:
- Base: Current: $3.17B, Yesterday: -1.29%
- Arbitrum: Current: $2.90B, Yesterday: 1.24%
- Optimism: Current: $736.68M, Yesterday: -0.41%
- Blast: Current: $562.07M, Yesterday: -0.90%
- Mantle: Current: $558.08M, Yesterday: -0.74%
Price Movements
In the broader market, Bitcoin (BTC) has seen a price increase, currently trading at $94,618, up from $92,294 yesterday. Ethereum (ETH) also shows a slight uptick, now priced at $3,118, compared to $3,114 yesterday.
Fundraising Highlights
Today’s fundraising efforts in the crypto space have totaled $35 million, with significant rounds including:
- Noble: $15 million
- Bitfinity Network: $12 million
- OpenLayer: $5 million
For the current week, cumulative fundraising has reached $38.5 million.
Market News
Several key developments are shaping the market:
- MicroStrategy has increased its note sales to $2.6 billion to fund Bitcoin purchases, aiming to boost confidence in BTC’s price potentially hitting the $100,000 mark.
- Options for BlackRock's Bitcoin ETF saw an unprecedented $1.9 billion traded on its first day, as noted by Bloomberg’s senior ETF analyst Eric Balchunas.
- PayPal has partnered with Xoom to facilitate cross-border stablecoin payments, expanding access to PYUSD in Asian and African markets.
- Paxos has acquired Membrane Finance to enhance its stablecoin offerings in the EU, leveraging Membrane’s existing licenses.
- Injective has launched its iAgent SDK, allowing developers to create AI-driven blockchain agents, integrating OpenAI tools for improved on-chain operations.
