Layer 2 Networks Surge to $8.21 Billion TVL Amidst Growing Crypto Interest and Market Developments

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— 1 min read
Layer 2 Networks Surge to $8.21 Billion TVL Amidst Growing Crypto Interest and Market Developments

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The cryptocurrency market shows a slight uptick in total value locked (TVL) on Layer 2 networks, currently reaching $8.21 billion, up from $8.07 billion yesterday. This increase reflects growing interest and investment in scaling solutions.

Top Layer 2 Networks

  • Arbitrum: $2.40 billion (up 1.23%)
  • Base: $2.25 billion (up 2.52%)
  • Scroll: $726.89 million (up 2.63%)
  • Blast: $687.88 million (up 1.61%)
  • Optimism: $640.62 million (up 2.80%)

Current Prices

Bitcoin (BTC) is currently priced at $62,162, a slight increase from $62,060 yesterday. Ethereum (ETH) remains stable at $2,415, unchanged from the previous day.

Fundraising Activities

No new fundraising rounds have been reported today due to the weekend. However, cumulative fundraising for the current week totals $26.35 million.

Market Developments

In related news, major financial institutions are ramping up competition for new customers. JPMorgan Chase is offering up to $900 to entice new clients, while Wells Fargo, Bank of America, and Citi are also providing attractive sign-up bonuses.

In the tech space, Solana Foundation's VP of Technology, Matt Sorg, discussed strategies for scaling and reducing network congestion, emphasizing the importance of decentralization and low-latency performance.

On the regulatory front, Binance has faced scrutiny, with its financial crime chief stating that the firm has not complied with 86% of Israeli requests to freeze Palestinian users' crypto wallets.

Furthermore, EigenLayer reported a $5.7 million hack, labeling it as an isolated incident with no vulnerabilities found in the protocol. Recovery efforts are ongoing, with some stolen funds already frozen.

Outside the crypto sphere, a study by Avantis AI highlights the AI readiness of major urban centers, revealing intricate factors that influence their technological growth. Cities like San Francisco and Tokyo are at the forefront, showcasing their potential for AI advancements.

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