Layer 2 Networks Surge to $9.42B: Bitcoin Hits $103K Amid Crypto Fundraising Boom
The cryptocurrency market is experiencing a dynamic shift, with the total value locked (TVL) in Layer 2 networks rising to $9.42 billion, up from $9.30 billion yesterday. This increase reflects growing interest and investment in these networks.
Among the top Layer 2 networks, Base leads with a current TVL of $3.78 billion, marking a rise of 1.61% from the previous day. Arbitrum follows closely with $3.03 billion, showing a gain of 1.93%. Optimism holds $751.02 million with a modest increase of 0.32%. Mantle is also on the rise at $478.21 million, up by 3.28%, while Blast sits at $421.26 million, increasing by 0.50%.
In terms of major cryptocurrencies, Bitcoin has surged to $103,291, up from $100,024 yesterday. Meanwhile, Ethereum has also seen gains, reaching $3,430, an increase from $3,308.
Today, the fundraising scene is booming with a total of $270.27 million secured. The standout rounds include Phantom, which raised $150 million in a Series C funding round, achieving a valuation of $3 billion. Komainu followed with $75 million, and 1Money raised $20 million. Cumulatively, this week has seen $713.27 million in fundraising.
In regulatory news, former President Trump is reportedly planning an executive order to prioritize cryptocurrency at a national level. This order aims to instruct regulatory agencies to collaborate with the crypto industry and establish a crypto council for representation.
On the market front, Litecoin is gaining traction with hopes surrounding a potential ETF, leading to a 31% surge in its price. Experts believe Litecoin's strong foundation and regulatory clarity may give it an edge over competitors like XRP and Solana.
In Europe, Boerse Stuttgart has made headlines as it receives the first crypto license in Germany under the new MiCA regulations. This milestone allows Boerse Stuttgart Digital Custody to operate as a fully licensed crypto asset service provider. Additionally, the EU's new Digital Operational Resilience Act (DORA) has come into effect, imposing enhanced cybersecurity and risk management requirements on crypto businesses.
