Crypto Market Sees Mixed Signals: Layer 2 TVL Rises, Bitcoin and Ethereum Dip
Crypto Market Update
The cryptocurrency market is showing mixed signals today. The Total Value Locked (TVL) on L2 Beat has risen to $9.84 billion from $9.60 billion yesterday.
Among the top Layer 2 networks, Arbitrum leads with a TVL of $3.15 billion, reflecting a 2.01% increase from yesterday. Base follows with a TVL of $1.70 billion, up 2.94%. Blast has seen a modest gain, rising 0.60% to $1.33 billion. Optimism's TVL is up 3.29%, reaching $756.92 million. Linea rounds out the top five with a TVL of $727.38 million, an increase of 1.78%.
Bitcoin's price has dipped slightly to $64,768 from $65,137 yesterday. Ethereum is also down, trading at $3,437 compared to $3,448 yesterday.
On the fundraising front, today saw a total of $13.50 million raised. Mira led the way with a $9.00 million round, followed by PEXX with $4.50 million. This brings the cumulative fundraising for the week to $36.25 million.
In other news, Polymarket has hired renowned statistician Nate Silver as an adviser. This move comes as the platform has taken in $265 million in bets on the U.S. election.
Meanwhile, a Singapore court ruling has intensified suspicions that the $125 million Multichain hack was an inside job. Fantom Foundation CEO Michael Kong has expressed regret over trusting Multichain's initial account of the incident.
AI and decentralized networks are converging, as highlighted by Jan Camenisch, CTO of the DFINITY Foundation. He discussed Internet Computer's innovative Chain Fusion solution and the potential for AI integration in DePIN projects.
Grayscale has launched its Decentralized AI Fund, aiming to track projects like Filecoin and Bittensor. An executive noted that these blockchain-based AI protocols uphold the principles of decentralization, accessibility, and transparency.
Lastly, The Open Network (TON) is set to launch a bridge allowing users to bring their Bitcoin to the Telegram-linked network for DeFi applications.
