Cryptocurrency Market in Turmoil: TVL on Layer 2 Networks Drops from $9.80B to $0

Cryptocurrency Market Update

The cryptocurrency market is currently experiencing a slight dip in Total Value Locked (TVL) on Layer 2 solutions. According to L2 Beat, the TVL has decreased from $9.80 billion yesterday to $9.66 billion today.

Among the top Layer 2 networks, Arbitrum holds the highest TVL at $2.96 billion, though it saw a 2.09% decline from yesterday. Blast follows with a TVL of $2.08 billion, down by 1.23%. Base stands at $1.62 billion, experiencing a 1.16% drop. Optimism's TVL is currently $719.13 million, a decrease of 0.60%. Linea rounds out the top five with a TVL of $679.16 million, down 0.58% from yesterday.

Bitcoin (BTC) and Ethereum (ETH) prices have also seen declines. BTC is currently trading at $65,017, down from $66,421 yesterday. ETH has dropped to $3,403 from $3,503 the previous day.

Fundraising activity is paused today as it's the weekend. No significant funding rounds have been reported. Cumulative fundraising over the current week stands at $0.