X Layer Network has shown significant growth in its total value locked (TVL), reaching $88 million. Concurrently, treasury companies continue to accumulate ETH, while Ark Invest has updated its cryptocurrency portfolio.
Record Growth of X Layer Network TVL
On August 18, according to L2Beat data, the total value locked in X Layer Network reached $88 million, setting a new all-time high. By this point, the value has reduced to $84 million, but it still represents a 100% increase over the past week.
Analysis shows that the record TVL highlights the rapid adoption of X Layer, likely driven by increasing activity on OKX's Layer 2 platforms. However, the quick retreat indicates potential volatility. Sustaining inflows may be critical in determining whether the current growth is structural or a short-term speculation.
Ongoing Demand for Ethereum from Treasury Companies
On August 18, Coinbase's Institutional research head David Duong stated on social media that 'the demand for ETH is not over yet.' Since early August, leading Ethereum treasury companies have accumulated over 795,000 ETH (approximately $3.6 billion), bringing their total holdings to over 2% of ETH’s supply. Additionally, BMNR raised $20 billion in new funds, increasing its total buying power to $24.5 billion.
The analysis shows that the large-scale ETH accumulation by treasury firms underscores robust institutional demand. Controlling more than 2% of the supply signifies long-term confidence and removes liquidity from the market, potentially supporting higher prices. While this is bullish structurally, rapid inflows could increase short-term volatility if momentum stalls.
ARKK Fund Portfolio Update from Ark Invest
On August 18, Ark Invest Daily reported the latest holdings breakdown for Cathie Wood’s ARKK fund, including Coinbase at 6.28%, Robinhood at 3.84%, Bitmine at 3.22%, and Circle at 3.17%.
The analysis indicates that this allocation shows Ark Invest’s conviction in crypto-related companies, with Coinbase remaining the largest holding above 6%. The presence of Robinhood, Bitmine, and Circle highlights exposure across exchanges, mining, and stablecoins. While Ark has trimmed some positions recently, the overall allocation suggests it still views crypto firms as core growth drivers.
The cryptocurrency market remains dynamic, with increased interest in X Layer, ongoing demand for Ethereum, and confirmation of institutional support for crypto-related firms. These factors suggest potential for further growth in the future.
