Cryptocurrency Market Sees TVL Growth, BTC and ETH Price Hikes, and Rising Crypto Crime

Cryptocurrency Market Update

The cryptocurrency market is seeing a mix of fluctuations and innovations, with the total TVL on L2 Beat rising slightly to $8.83B from $8.78B yesterday.

Among the top Layer 2 networks, Arbitrum leads with a TVL of $2.76B, marking a 1.41% increase from the previous day. Base follows with $1.55B, up by 0.22%. Blast, however, saw a dip, with its TVL dropping by 2.13% to $1.44B. Linea and Optimism reported TVLs of $711.14M and $663.45M, with changes of 1.16% and -0.33%, respectively.

Bitcoin (BTC) and Ethereum (ETH) have both experienced price hikes. BTC is currently trading at $61,630, up from $60,876 yesterday. ETH has also risen, now priced at $3,408 compared to $3,373 the previous day.

Fundraising activities are on hold today due to the weekend, but the cumulative fundraising over the week has reached $278.50M.

In recent news, Bitcoin miner capitulation has fallen to levels seen during the FTX collapse. This follows the recent BTC halving, which has impacted miner rewards and profitability.

Crypto crime is on the rise, with deepfake-related losses projected to surpass $25 billion this year. Most average crypto users lack the skills to detect these sophisticated scams.

Meta's prototype 'full holographic' glasses could revolutionize Web3 by giving NFTs an augmented reality experience similar to Pokemon Go.

US banks are reportedly dumping exposure to the $2.5 trillion commercial real estate market to avoid inevitable losses, according to a New York Times report.

In a different sphere, researchers have released a study on using AI to create a more creative chess foe, capable of identifying and executing brilliant, game-winning moves.