Layer 2 Networks Hold Steady at $8.12 Billion Amid Crypto Market Stability and Price Gains
The cryptocurrency market is currently showing some stability, with the total value locked (TVL) on Layer 2 networks remaining steady at $8.12 billion. This figure has not changed from yesterday, indicating a pause in movement across these networks.
Examining the top five Layer 2 networks, we see:
- Arbitrum: $2.29 billion
- Base: $2.25 billion
- Scroll: $801.85 million
- Blast: $667.08 million
- Optimism: $626.91 million
Bitcoin (BTC) is trading at $63,092, up from $62,402 yesterday. Meanwhile, Ethereum (ETH) has seen a rise to $2,469, compared to $2,436 the previous day. This uptick in prices comes after Bitcoin's recovery from a dip below $59,000, showing resilience in the face of economic data.
In terms of fundraising, today has seen a total of $22.90 million raised, with the largest round coming from Ithaca at $20 million, followed by Infinitar at $2.90 million. Cumulatively, this week has brought in $124.25 million in total funding.
In legal news, British man James Howells continues his battle for £495 million (approximately $647 million
At the recently concluded Bitcoin Amsterdam 2024 conference, industry leaders touted Bitcoin as a remedy for inflation, fraud, and global financial inequality. This gathering highlighted Bitcoin's potential to reshape finance and governance.
On the regulatory front, the SEC has filed charges against Chicago-based crypto trading firm Cumberland for allegedly operating as an unregistered securities dealer, involving transactions exceeding $2 billion in crypto assets.
In traditional finance, shares of JPMorgan Chase and Wells Fargo surged as U.S. banks exceeded Wall Street expectations. JPMorgan's stock rose nearly 5% following a strong Q3 earnings report, highlighting a 3% increase in net interest income.
