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Crypto Market Update: Layer 2 TVL Dips to $7.82B, Bitcoin and Ethereum Prices Slide

Crypto Market Update: Layer 2 TVL Dips to $7.82B, Bitcoin and Ethereum Prices Slide

The cryptocurrency market shows a slight dip in total value locked (TVL) across Layer 2 networks, currently at $7.82 billion, down from $7.80 billion yesterday. The top five Layer 2 networks are as follows:

  • Arbitrum: Current TVL: $2.60 billion (change: -0.12%)
  • Base: Current TVL: $1.47 billion (change: 0.08%)
  • Blast: Current TVL: $770.77 million (change: 0.41%)
  • Scroll: Current TVL: $692.19 million (change: 0.86%)
  • Optimism: Current TVL: $579.14 million (change: 0.69%)

In terms of market prices, Bitcoin (BTC) is currently trading at $57,090, down from $58,019 yesterday. Ethereum (ETH) is also experiencing a decline, currently priced at $2,403, compared to $2,450 the previous day.

Over the weekend, total fundraising is not available. However, cumulative fundraising for the current week stands at $30.74 million.

In notable news, Robinhood Crypto LLC has reached a $3.9 million settlement over claims that it blocked customers from withdrawing cryptocurrency from their accounts between 2018 and 2022. This settlement highlights ongoing regulatory scrutiny in the crypto space.

Meanwhile, Nvidia faced a historic one-day loss following a US antitrust subpoena. Authorities are concerned about Nvidia allegedly penalizing buyers who do not exclusively use its chips, a claim the company has denied.

Former President Donald Trump's new cryptocurrency project, World Liberty Financial, aims to enhance US financial dominance through dollar-pegged stablecoins and decentralized finance (DeFi). The project emphasizes the potential impact of mass adoption in the crypto landscape.

Additionally, Core Blockchain has launched LstBTC, a new liquid staking token for Bitcoin, expanding its offerings in the crypto market.

In regulatory developments, Australia has introduced a non-legally binding AI framework aimed at shaping future policy. This initiative calls for risk assessment processes to identify and mitigate hazards in AI systems, ensuring transparency in the technology's deployment.