Layer 2 Networks Surge to $10.35B TVL as Bitcoin and Ethereum Prices Rise in Crypto Market
The cryptocurrency market is witnessing notable movements as of today, with the total value locked (TVL) on Layer 2 networks reaching $10.35 billion, up from $10.09 billion yesterday. This upward trend reflects growing confidence in L2 solutions.
Top Layer 2 Networks
- Base: Current TVL is $3.75 billion, a rise of 3.49% from yesterday.
- Arbitrum: TVL stands at $3.23 billion, increasing by 2.79%.
- Optimism: Currently at $786.52 million, with a growth of 1.66%.
- Blast: TVL is $626.74 million, marking an increase of 1.59%.
- Mantle: Currently at $507.43 million, slightly down by 0.50%.
Current Price Movements
Bitcoin (BTC) is trading at $96,141, a modest increase from $95,980 yesterday. Ethereum (ETH) has seen a more significant jump, now priced at $3,796, up from $3,621.
Fundraising Update
Today's fundraising efforts have totaled $18 million, with the largest rounds being:
- Union: $12 million
- GAIB: $5 million
- Dechat: $1 million
For the current week, cumulative fundraising has reached $196.03 million.
Recent News Highlights
Backed has announced a partnership with Sonic and Chainlink to tokenize Fortlake’s Sigma Opportunities Fund, a significant step towards integrating traditional financial assets into the blockchain space.
In another development, El Salvador's platform, NextBridge, has successfully raised $30 million through a tokenized US Treasury offering, aligning with a broader trend in the financial sector.
Ethereum is showing potential for a 97% rally to $7,300 if it breaks past the $3,800 resistance level. However, analysts caution that increased Liveliness and long-term holder selling may pose risks.
Additionally, MicroStrategy is on the verge of joining the influential Nasdaq-100 Index, which could lead to increased investment in both the stock and Bitcoin.
Lastly, Namada has launched its mainnet, enabling shielded cross-chain transactions, marking a pivotal advancement in decentralized finance.
