ChainCatcher news, Galaxy Research analyzed the growth of the Bitcoin L2 ecosystem in its latest report for 2024, pointing out that as of now, venture capital in the Bitcoin L2 space has reached $447 million, with 39% of the investments occurring in the first three quarters of 2024. From January to September 2024, Bitcoin L2 projects secured $174 million in funding. Of this, $105 million went to sidechain projects, while $63 million went to rollups projects.Galaxy estimates that by 2030, approximately $47 billion in Bitcoin liquidity could flow into the Bitcoin L2 network. The agency believes that before 2024, traditional crypto venture capital firms (excluding those focused on Bitcoin) had limited involvement in the Bitcoin ecosystem. As the ecosystem matures, crypto venture capital firms will continue to deploy funds into Bitcoin L2 projects.

ChainCatcher news, the decentralized data storage project Akave has completed a $3.45 million funding round, with participation from Protocol Labs, Blockchange VC, Lightshift, and Blockchain Builders Fund. This funding will be used to accelerate Akave's development in on-chain data management.Akave has launched the Yucca testnet, open to early testers, for exploring on-chain data storage and programmability. As a hot storage Layer 2 solution for Filecoin, Akave provides tools for enterprises, AI companies, and DePIN developers to move beyond traditional cloud storage, build on-chain data lakes, and promote the development of data ownership and new data monetization models.In addition, the Filecoin L2 project Storacha has also announced the launch of its Alpha version network for the Filecoin ecosystem, focusing on high-performance hot storage, primarily targeting high-demand application scenarios such as gaming, AI, and DePIN. Storacha was founded by core developers of IPFS and Filecoin, dedicated to providing a distributed storage experience comparable to traditional S3.

ChainCatcher news, Three Arrows Capital founder Zhu Su stated: "Relative valuation in this cycle is more effective in MEME coins than in VC coins, because those who hold MEME coins usually sell one to exchange for another.Even if one L2 project is relatively cheaper than another, those selling the more expensive L2 project won't buy the cheaper one; they will simply convert their funds directly into USD."

ChainCatcher news, according to CoinDesk, the Bitcoin Layer2 project BOB has announced its integration into Optimism's Superchain ecosystem, becoming the first Bitcoin-native project integrated into this ecosystem.BOB has received a grant of $870,000 from the Optimism Foundation. This ecosystem has previously attracted Coinbase and Kraken to join, building its independent blockchain through the OP Stack toolkit.

ChainCatcher message, released by BOB, a hybrid L2 project driven by Bitcoin and Ethereum, publishes the Hybrid L2 white paper.Hybrid L2 is a brand new model that combines the security of Bitcoin with the innovation of Ethereum DeFi, ultimately making Bitcoin the core of the entire DeFi ecosystem. BOB's hybrid L2 design aims to fundamentally change the way Bitcoin is used in DeFi finance, with its ultimate form inheriting Bitcoin's security and supporting trustless Bitcoin deposits and withdrawals.

ChainCatcher news, at the Solana Breakpoint conference, Zeta Markets co-founder Tristan Frizza stated that Zeta Markets is incubating and developing the Solana L2 project Bullet, which will launch its testnet in Q4 2024, at which time ZEX stakers will have early access. The Bullet mainnet will be released in Q1 2025. Bullet is a Rollup that uses Solana L1 as the settlement layer and data availability layer, utilizing ZK fraud proofs for verifiable on-chain settlements. The first DApp in the Bullet ecosystem is the perpetual CLOB platform Zeta X.

ChainCatcher message, Ethereum co-founder Vitalik Buterin stated on social media that starting next year, he plans to only publicly mention (in blogs, speeches, etc.) L2 projects that are at stage 1+, and may give a brief grace period to some genuinely interesting new projects.Vitalik said: "Whether I have invested or not, or whether you are my friend, the project must reach stage 1, otherwise it will not be considered. Multiple ZK-rollup teams have told me they expect to reach stage 1 by the end of the year. I am very excited about this.Of course, we should not easily abandon training rounds until we have real confidence in the security of the proof system; doing so would be irresponsible. But stage 1 (75% of the council needs to cover the proof system, and 26%+ of the council members must come from outside the rollup team) is a very reasonable moderate milestone. The multi-signature wallet I am part of has not experienced a single activity failure in years, let alone a 26% failure rate. The era of rollups as glorified multi-signature wallets is coming to an end. The era of crypto trust is about to arrive."

ChainCatcher message, the EVM-compatible Bitcoin L2 network BEVM tweeted, stating that the project has not conducted any form of token sale. BEVM clearly stated that any actions involving the sale of BEVM tokens are considered fraudulent.

ChainCatcher news, the Bitcoin Layer2 project zkBTC Bridge under Lightec Labs has received grant funding support from the ICP Foundation. It is reported that zkBTC Bridge aims to utilize Zero-Knowledge Proof (ZKP) technology to build a decentralized bridge between Bitcoin and Ethereum. With this grant funding support, zkBTC will further advance its development work, committed to providing users with secure and efficient cross-chain solutions, and promoting the development of the Bitcoin Layer2 ecosystem.

ChainCatcher news, Bitcoin L2 project Ark Labs announced the completion of a $2.5 million Pre-Seed funding round, led by Tim Draper and Draper Ventures, with participation from Fulgur Ventures, Axiom Capital, and Bitcoin angel investor Stephen Cole. This new funding will be used for its development and to attract top talent.It is reported that the Ark protocol is an open-source second-layer protocol designed to work with the Lightning protocol to enable fast, low-cost, and seamless payments in Bitcoin, without compromising decentralization or self-custody.

ChainCatcher news, the consumer-grade Layer 2 LYNC using MOVE Stack has completed a $1.5 million pre-seed funding round, with supporters including Movement Labs, Levitate Labs, Smape Capital, Amesten Capital, Aptos, 8186 Capital, and LonghashX. Angel investors include Gabby Dizon from YGG, Rushi Manche and Cooper Scanlon from Movement Labs, Lai Ho Tin from J17 Capital, Bruno Faviero from Magna, Arjun Kalsy from Fuel, and Prashant Maurya from Spheron.LYNC plans to use this funding to bring the 7 billion smartphone users worldwide into blockchain and provide a highly scalable mobile application development platform for independent entrepreneurs, developers, and founders.

ChainCatcher news, the RWA Layer 2 project Lumia (formerly known as Orion) announced the completion of its real-world asset (RWA) node sale, raising $25 million in less than 20 days.The Lumia team expressed their excitement about the growing interest from major institutional investors and the community in their disruptive technology. The project team stated that more details about this round of financing will be announced soon.

ChainCatcher message, Ethereum SVM L2 project Eclipse on X indicates that the mainnet will be launched next week.According to the Web3 asset data platform RootData, Eclipse is a customizable rollup provider compatible with multiple Layer 1 blockchains. The platform enables developers to deploy their own rollups powered by the Solana operating system, using any chain for security or data storage.

ChainCatcher news, according to Fortune, the Bitcoin L2 project Bitlayer Labs announced the completion of a $11 million Series A financing, led by Franklin Templeton, ABCDE, and Framework Ventures, with participation from Stake Capital Group, WAGMI Ventures, Flow Traders, GSR Ventures, and FalconX. This round of financing brings Bitlayer's total funding to $16 million.It is reported that Bitlayer is the first Bitcoin infrastructure project to receive ETF-licensed institutional investment, aiming to address the technical challenges of Bitcoin scalability through crypto innovation and blockchain protocol engineering. The project will be used to support various protocols within the ecosystem and continue the development of its Mainnet-V2.

ChainCatcher news, Bitcoin L2 project Zulu Network announced on platform X that its ZuluPrime testnet Beta is officially launched today.Core updates of the L2 ZuluPrime testnet Beta version include:Upgrade of the smart contracts for the Zulu bridge;Support for multiple tokens to pay transaction fees on the Zulu chain, currently supporting BTC and Zulu tokens;Overall optimization of performance and interface. The Beta market activity Lwazi is scheduled to start on June 8.Zulu Network has become the industry's first Bitcoin L2 project to complete a simulated implementation of ZKP using Bitcoin Script language on Bitcoin, and has contributed code to the BitVM2 official repository. Currently, the Zulu team is rapidly iterating, planning to upgrade to a true Bitcoin L2 in the next phase, inheriting the security of the Bitcoin network.

ChainCatcher news, Bitcoin L2 project rif announced that the stablecoin USDRIF has been upgraded to V2.0 and is now live on the mainnet.The upgrade aims to enhance usability, reduce costs, and increase accessibility in the Bitcoin L2 space and the broader Web3 market. This upgrade achieves these goals by improving user experience, lowering costs, and enhancing accessibility.

ChainCatcher news, Sun Yuchen posted on platform X stating: "Ethereum is a decentralized protocol, and we are also ordinary participants in Ethereum. We have enough capital to provide TVL and node validation services for Ethereum, TRON, and all other types of L2 projects to ensure the security of all blockchains. We will be committed to the construction of this field in the long term."Previous news, according to on-chain analyst Yu Jin's monitoring, Sun Yuchen currently holds 665,000 ETH (worth $2.447 billion), of which 390,000 ETH (worth $1.435 billion) were purchased at an average price of $2,984 between the end of 2023 and the end of April this year.