Cryptocurrency Market Sees Slight TVL Fluctuations; Bitcoin and Ethereum Prices Drop

The current state of the cryptocurrency market is marked by slight fluctuations in Total Value Locked (TVL) across leading Layer 2 (L2) networks. According to L2 Beat, the overall TVL has seen a marginal decrease from $9.39 billion yesterday to $9.38 billion today.

Breaking down the top-5 L2 networks:

• Arbitrum: TVL stands at $2.88 billion, unchanged from yesterday.
• Blast: TVL is $1.94 billion, reflecting a 1.83% decrease from the previous day.
• Base: TVL is $1.58 billion, a slight dip of 0.07% from yesterday.
• Optimism: TVL is $690.02 million, down by 0.69% from the previous day.
• Linea: TVL is $678.88 million, marking a 1.00% increase from yesterday.

On the cryptocurrency prices front, Bitcoin (BTC) is currently priced at $64,087, showing a minor decrease from $64,240 yesterday. Ethereum (ETH) has also experienced a slight drop, now priced at $3,474 compared to $3,495 yesterday.

In terms of fundraising, no new rounds have been reported today due to the weekend. However, the cumulative fundraising over the current week stands at $130.15 million.

In recent news, the crypto lobbying group Fairshake has raised a substantial $160 million in May, as reported by CNBC. This fundraising effort sees contributions from major players like Ripple, Coinbase, and Andreessen Horowitz (a16z), aiming to influence the upcoming US presidential race.

Additionally, a think tank report highlights that Generation X is poised to inherit around $31 trillion by 2033 as part of a massive generational wealth transfer. Millennials and Gen Z, however, will have to wait longer to benefit from this transfer.

On the stablecoin front, Tether’s USDT on the TRON network has surpassed Visa's daily average volume of $42 billion, according to Lookonchain. This milestone underscores Tether’s growing dominance in the digital payments space.

Meanwhile, DARPA has released highlights indicating the challenges in developing quantum finance solutions, pointing to the complexity of integrating quantum computing into financial systems.

Lastly, Softbank CEO Masayoshi Son has stated that the company's goal is to create 'artificial super intelligence,' predicting that AI will be 10,000 times smarter than humans by 2035.