Layer 2 Networks TVL Drops to $8.40B Amid Crypto Market Shifts and Major Fundraising Efforts

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Layer 2 Networks TVL Drops to $8.40B Amid Crypto Market Shifts and Major Fundraising Efforts

As of today, the total value locked (TVL) in Layer 2 networks stands at $8.40 billion, a slight decrease from $8.62 billion yesterday. The leading Layer 2 networks are experiencing similar declines:

  • Base: Current TVL is $3.66 billion, down 2.31%.
  • Arbitrum: Current TVL is $3.04 billion, down 2.45%.
  • Mantle: Current TVL is $460.56 million, down 1.57%.
  • Blast: Current TVL is $343.52 million, down 8.03%.
  • Linea: Current TVL is $297.98 million, down 4.31%.

In the broader cryptocurrency market, Bitcoin (BTC) is trading at $104,567, a decrease from $104,746 yesterday. Ethereum (ETH) has seen a slight uptick, currently priced at $3,317, up from $3,310 yesterday.

Today's fundraising efforts in the crypto space have totaled $15.54 million, with the largest rounds coming from:

  • SignalPlus: $11.00 million
  • Printr: $2.50 million
  • MinionLab: $2.00 million

Over the current week, cumulative fundraising has reached $109.44 million.

In notable news, the Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, accusing the bank of cheating millions of customers out of $2 billion in interest. This legal action highlights ongoing scrutiny in the financial sector.

Meanwhile, Meta Platforms plans to invest $65 billion in AI infrastructure by 2025, as stated by CEO Mark Zuckerberg. This investment aims to build a massive data center that could cover a significant portion of Manhattan.

In the crypto corporate landscape, MicroStrategy is set to redeem $1 billion in debt as its Bitcoin holdings approach $50 billion. This move reflects the company's strategy to manage its corporate debt while continuing to accumulate Bitcoin.

On the institutional front, Nasdaq is seeking SEC approval for BlackRock's in-kind Bitcoin transactions. This proposal comes amid a $2 billion inflow streak over six days, indicating robust demand for the ETF.

Lastly, the founder of ChainGPT has expressed optimism about AI agents transforming the crypto and blockchain sectors. These agents are expected to enhance trading strategies, improve DeFi efficiency, and increase accessibility for users.

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