Source: @L2Beat, the Ethereum layer-2 network reached a new milestone on November 10, reaching $13 billion in total value locked (TVL) in contracts.
According to L2Beat, 32 different networks qualify as Ethereum layer-2, including Arbitrum One, Optimism, Base, Polygon zkEVM, Metis, and others. Before June 15, all of these networks combined had less than $10 billion in crypto locked in their contracts, and their aggregate TVL has been falling since April’s peak of 11.8 billion USD.
This increase in TVL is even more impressive when compared to the rate that existed during the 2021 bull market, when total investment in cryptocurrencies was much larger than today.
As the market capitalization of all cryptocurrencies reached an all-time high of $2.82 trillion, layer-2 had less than $6 billion locked in their contracts.
Today, the total market capitalization of cryptocurrencies is a more modest $1.4 trillion, according to CoinMarketCap, but the layer-2 TVL is larger.
source: OSI model Layer 2 protocols- https://www.manageengine.com/
Blockchain.com Banks $110 Million: This is Valuation Cut to Half
Kingsway Capital, an investment fund from the UK, is leading in this capital mobilization process.
Soure: @Blockchain.com announced on November 15, 2023. In addition to Kingsway Capital, there is also the participation of partners such as Baillie Gifford, Lakestar, Lightspeed Venture Partners, Coinbase Ventures and many other organizations and individuals.
” Crypto exchange Blockchain .com raises $110 million at a fraction of prior value in a round led by Kingsway — the latest sign that crypto VC investments are picking up https://t.co/kpyqbkQ7yJ ”
— Bloomberg Crypto (@crypto) November 14, 2023
Kingsway Capital is also the leading team in another funding round of Blockchain.com, the amount was not disclosed and ended in Q3/2022.
Blockchain.com’s market value is currently below $7 billion. While the previous valuation reached 14 billion USD in March 2022, after the Series D round without announcing the value of capital raised.
