Layer 2 Networks Surge to $7.11 Billion TVL as Bitcoin and Ethereum Show Market Resilience

cryptosummary

Feb 11, 2025 — 1 min read

The cryptocurrency market is witnessing a notable uptick, with the total value locked (TVL) on Layer 2 networks reaching $7.11 billion, up from $7.01 billion yesterday. This increase reflects a growing interest in scaling solutions across the blockchain landscape.

Top Layer 2 Networks

The leading Layer 2 networks are showing varied performance:

Base: Current TVL stands at $3.16 billion, a rise of 2.14% from yesterday.
Arbitrum: Currently at $2.76 billion, marking a 1.40% increase.
Mantle: TVL at $351.12 million, down by 3.32%.
Blast: Currently holds $238.08 million, down 1.40%.
Linea: TVL is at $231.97 million, up by 1.20%.

Market Prices

In the broader market, Bitcoin (BTC) is trading at $97,019, slightly down from $97,372 yesterday. Ethereum (ETH) shows a modest increase, currently priced at $2,667, up from $2,660.

Funding Landscape

Today, the total fundraising in the crypto sector amounts to $21.25 million. The biggest rounds include:

Human Passport: $10.00 million
NodeGo: $8.00 million
Drosera: $3.25 million

The cumulative fundraising for the week stands at $21.25 million.

Recent Developments

In notable news, Brevis has launched Pico v1.0 zkVM, a next-gen solution that allows developers to customize prime fields, proving systems, and workflows. This development is expected to enhance app-level integrations and access to historical on-chain data.

In other news, Metaplanet's share price surged by 4,800% as the company, dubbed “Asia’s MicroStrategy,” has been stacking Bitcoin, highlighting a trend of institutional interest in BTC.

Legislative movements are also noteworthy, with the North Carolina House speaker filing a bill to invest state funds in Bitcoin exchange-traded products (ETPs), which could pave the way for broader institutional adoption.

On the corporate front, Tesla’s Q4 Bitcoin profit has sparked discussions about using BTC as collateral, with crypto executives suggesting that it could unlock liquidity and hedge against market downturns.

Lastly, in tech news, OpenAI's Sam Altman has reportedly declined Elon Musk’s $100 million offer to acquire the AI firm, maintaining focus on the company’s current trajectory.

ETF Market Faces $833M Outflow Amid Bearish Sentiment Despite Bitcoin ETF Renewed Interest

Trend This week, the ETF market experienced a significant outflow of -$833.10M, continuing the trend of negative flows observed over the past seven weeks. The previous week saw an even larger outflow of -$2.95B, indicating a persistent bearish sentiment among investors. Two weeks ago, the outflow

Crypto Investment Weekly Update: $325M Raised, CeFi Leads Amid Decline in Funding

Summary of the Week’s Results Last week, the crypto investment scene raised $325.23M across 26 rounds. This marks a 41.93% decrease in total funds compared to the previous week, along with a 33.33% decline in the number of rounds. Most Active Investors DragonFly Capital led with

Cryptocurrency Market Update: Layer 2 TVL Drops to $6.30B Amid Mixed Signals and Bitcoin Rises

The cryptocurrency market is currently experiencing mixed signals as the total value locked (TVL) in Layer 2 networks has dropped to $6.30 billion, down from $6.49 billion yesterday. This decline reflects the ongoing volatility in the crypto space. Layer 2 Networks Overview Among the top five Layer 2

Layer 2 Networks Surge to $6.49 Billion TVL as Crypto Market Sees Major Shifts and Investments

The cryptocurrency market is experiencing notable shifts as the total value locked (TVL) on Layer 2 networks has increased to $6.49 billion, up from $6.37 billion yesterday. This growth reflects a steady interest in decentralized solutions. Among the top Layer 2 networks, Base leads with a TVL of