Layer 2 Networks Surge to $7.26 Billion TVL as Bitcoin and Ethereum Prices Climb Higher
The cryptocurrency market is currently seeing a notable uptick in activity, particularly within the Layer 2 (L2) networks. As of today, the total value locked (TVL) on L2 Beat stands at $7.26 billion, a rise from $7.13 billion yesterday. This increase reflects growing confidence and investment in L2 solutions.
Among the top L2 networks, Base leads with a TVL of $3.25 billion, experiencing a modest increase of 3.88% since yesterday. Arbitrum follows closely with a TVL of $2.85 billion, showing a slight change of 0.12%. Other notable networks include Mantle at $356.21 million (+1.33%), Blast at $235.19 million (+0.41%), and Linea at $233.15 million (+1.42%).
In the broader market, Bitcoin (BTC) has seen a price increase to $97,385, up from $96,592 yesterday. Ethereum (ETH) also gained traction, currently priced at $2,723, compared to $2,678 previously.
Today, the fundraising landscape has been active, totaling $38 million in new investments. The standout rounds include Plasma, which raised $20.5 million to develop a Bitcoin-based network for stablecoins, StakeStone at $10 million, and Teneo Protocol with $3 million. Over the current week, cumulative fundraising has reached $140.05 million.
In notable news, Wall Street giant Goldman Sachs has quietly confirmed its investment of around $2 billion in Bitcoin, signaling strong institutional interest. Additionally, as Ripple’s XRP price surges, questions arise about its potential as the next big player in the market.
Coinbase has reported a revenue of $2.3 billion for Q4 2024, highlighting its global expansion and proactive stance in shaping US crypto regulation. This aligns with the ongoing trend of major players solidifying their positions within the crypto space.
On the regulatory front, the FBI has reported saving victims $285 million from crypto scams, including romance and “pig butchering” scams. This emphasizes the ongoing need for vigilance in the crypto ecosystem.
In the NFT sector, OpenSea has launched its OS2 platform, which includes token trading and introduces the $SEA community token. This move marks a significant shift for OpenSea, expanding its offerings beyond NFTs.
