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Crypto Market Surges: TVL Hits $10.33B, Binance Reaches 200M Users, Arbitrum Innovates

Crypto Market Surges: TVL Hits $10.33B, Binance Reaches 200M Users, Arbitrum Innovates

Cryptocurrency Market Update

The cryptocurrency market continues to show dynamic movements, with notable changes in both Total Value Locked (TVL) and token prices. According to L2 Beat, the current total TVL on Layer 2 networks stands at $10.33 billion, up from $10.22 billion yesterday.

Breaking down the TVL among the top-5 Layer 2 networks:

  • Arbitrum: $3.13 billion (down 0.28% from yesterday)
  • Blast: $2.18 billion (down 0.99% from yesterday)
  • Base: $1.80 billion (up 6.74% from yesterday)
  • Optimism: $791.99 million (up 1.28% from yesterday)
  • Linea: $672.96 million (up 1.82% from yesterday)

In the broader market, Bitcoin (BTC) currently trades at $69,671, up from $69,315 yesterday. Ethereum (ETH) also saw a slight increase, now priced at $3,701 compared to $3,683 yesterday.

Despite the active market, there has been no new fundraising today, maintaining the cumulative fundraising for the week at $0.

In other news, Intel and the African Development Bank (AfDB) have launched an initiative to train millions of Africans in advanced technologies, including artificial intelligence, robotics, and data science. This move aims to equip the continent's workforce with crucial skills for the future.

Arbitrum is set to distribute $215 million in ARB tokens to boost gaming innovation. Initially proposed in March and approved on June 7 with over 75% of votes in favor, this initiative could significantly impact the gaming sector on the Arbitrum network.

Meanwhile, Loopring has disclosed a $5 million hack, resulting from the compromise of its two-factor authentication-based Guardian wallet recovery service. This incident highlights the ongoing security challenges in the crypto space.

Binance has surpassed 200 million users, a milestone celebrated by CEO Richard Teng, who now aims for a billion users. If Binance were a country, it would rank as the eighth-most populous entity globally.

Lastly, Microsoft has previewed its next-gen Xbox, showcasing three revised hardware models set for release later this year. The tech giant also hinted at integrating crypto features, signaling a potential shift in the gaming and tech landscape.