Layer 2 Networks Surge: Total Value Locked Hits $9.83 Billion Amid Crypto Market Trends
The cryptocurrency market is currently showcasing a notable uptick in total value locked (TVL) across Layer 2 networks. The total TVL on L2 Beat has risen to $9.83 billion, up from $9.55 billion yesterday.
Among the top five Layer 2 networks, Base leads with a TVL of $3.85 billion, reflecting a daily increase of 2.87%. Following closely is Arbitrum, which has a TVL of $3.16 billion, marking a 3.18% rise. Optimism holds $803.50 million with a 2.78% increase, while Mantle and Blast show TVLs of $483.54 million and $471.33 million, with increases of 2.39% and 3.49%, respectively.
In the broader market, Bitcoin (BTC) is currently priced at $98,029, down slightly from $98,133 yesterday. Ethereum (ETH) has seen a positive shift, now valued at $3,635, up from $3,605.
This weekend has seen a pause in major fundraising activities, with total funding data not available. However, cumulative fundraising for the week stands at $22.30 million.
In significant news, MicroStrategy is planning a $2 billion stock offering aimed at expanding its Bitcoin reserves. This strategy allows the company to secure capital without a maturity date while providing regular dividends to investors.
On the other hand, Bitcoin investors have recently pulled $333 million from BlackRock's IBIT ETF, marking a record outflow and reflecting a trend of three consecutive trading days of withdrawals.
In a notable development for the Solana blockchain, developers have announced that Solana is now quantum-resistant. The new Winternitz Vault is optional, allowing users the choice to store their funds in a quantum-proof manner.
In contrast, Ethereum has experienced a surge in interest with spot ETF inflows hitting a record monthly high of $2,103,440,000 in December. This figure accounts for 81.5% of the cumulative total for the year, indicating strong investor confidence in Ethereum.
