Layer-2 TVL Rises Amid Crypto Market Fluctuations and Major Partnerships Announced
Crypto Market Update
The total value locked (TVL) on L2 Beat has seen a slight uptick, currently standing at $8.19 billion, compared to $8.15 billion yesterday. This growth reflects the ongoing interest and investment in Layer-2 solutions.
Among the top Layer-2 networks, Arbitrum holds the largest TVL at $2.70 billion, though it experienced a minor decline of 0.02% from yesterday. Base follows with a TVL of $1.49 billion, showing a 1.62% increase. Blast's TVL is $882.30 million, up by 1.25%. Scroll has $654.74 million, marking a 1.15% rise, and Optimism rounds out the top five with $591.33 million, a notable 2.28% gain.
In the broader crypto market, Bitcoin's price has dipped to $59,544 from $60,496 yesterday. Ethereum has also seen a slight decrease, now trading at $2,679, down from $2,697.
Today's fundraising activities have brought in a total of $19.00 million. Essential led the pack with an $11.00 million round, followed by Autoverse Studios with $8.00 million. This adds to the cumulative fundraising of $79.80 million over the current week.
In recent news, Pyth Network has partnered with The Open Network (TON) to deliver high-accuracy Web3 data for developers within the TON ecosystem. This collaboration aims to enhance the data sources available to TON developers, potentially driving more innovation and utility.
Coinbase's Wrapped Bitcoin (wBTC) is gaining attention, with experts suggesting it could dominate the market. However, it faces stiff competition from existing Wrapped Bitcoin, which already has a strong foothold.
MetaMask has teamed up with Mastercard to launch a debit card that allows users to spend directly from their Ethereum wallets. These cards will convert crypto to fiat at the point of transaction and are accepted wherever Mastercard is used.
On the Bitcoin front, mining giant Marathon has announced plans to raise $250 million to acquire additional BTC. This move underscores the ongoing race among Bitcoin holders to amass more of the digital asset.
In the AI space, Sahara AI has secured $43 million to develop a collaborative, decentralized AI platform. This funding round was led by Pantera Capital, Binance Labs, and Polychain Capital, with additional participation from Samsung and Matrix Partners.
