Layer 2 Solutions See $10.05B TVL; Bitcoin Dips as MicroStrategy Joins Nasdaq 100
As of today, the total value locked (TVL) in Layer 2 (L2) solutions stands at $10.05 billion, showing a slight decrease from $10.08 billion yesterday. The current figures for the top five L2 networks are as follows:
- Base: $3.56B (down 0.45%)
- Arbitrum: $3.13B (up 0.18%)
- Optimism: $763.57M (down 0.26%)
- Blast: $616.91M (down 0.38%)
- Mantle: $522.16M (down 0.09%)
In the broader cryptocurrency market, Bitcoin (BTC) is currently priced at $96,531, down from $97,376 yesterday. Ethereum (ETH) has seen a positive shift, currently trading at $3,658, up from $3,596.
Today, the market witnessed total fundraising of $45 million, with the largest round coming from usdx.money, which raised the entire amount. Over the current week, cumulative fundraising has reached $143.81 million.
In notable news, MicroStrategy Inc. is set to join the Nasdaq 100 index, which could lead to an influx of up to $2 billion in funds. This inclusion, effective after December 20, will allow passive investors to gain exposure to Bitcoin through MicroStrategy, which holds nearly 2% of the total Bitcoin supply.
On the lending side, a report highlights $89.67 billion in increasingly risky loans flagged at major banks like JPMorgan Chase, Wells Fargo, and Bank of America. This trend raises concerns about the stability of the financial system and potential impacts on the wider economy.
The SEC continues its crackdown on fraud in the crypto space, recently suing Touzi Capital and its CEO over a $115 million crypto mining fraud affecting approximately 1,500 investors. This case underscores the ongoing regulatory challenges in the cryptocurrency sector.
On a positive note, Trezor has reported a record sales week as Bitcoin approaches the $100,000 mark. The hardware wallet company saw a staggering 600% increase in sales, indicating a surge in demand for secure crypto storage solutions.
Lastly, Hong Kong is reportedly planning to exempt hedge funds, private equity firms, and the ultra-wealthy from crypto taxes, aiming to bolster its status as a leading finance and cryptocurrency hub. This proposal could attract significant investment into the digital asset sector.
