Avalon Labs Reaches Milestone of $1 Billion in Value Concurrently with Bitcoin Price Soaring to a New High of $75,000
In a significant milestone, Avalon Labs, the liquidity hub for Bitcoin LSDFi, has seen its total value locked (TVL) soar past the $1 billion mark. This impressive growth was driven by a nearly 25% increase in TVL over the past week, reaching an impressive $1.1 billion.
At the heart of this growth is Avalon's flagship DeFi lending platform, which currently holds nearly $795 million in TVL. The platform's popularity is evident, with Wrapped Bitcoin (WBTC) holding a substantial portion of Avalon Finance's total TVL. In fact, WBTC is the most popular token deposited on Avalon Finance's platforms, accounting for approximately one-third of the total value locked.
The largest market within Avalon Finance is BitLayer, with over $290 million worth of tokens. This is followed by Core, the second-largest market, which experienced a significant surge in October, rising from a minimal amount to nearly $180 million. Avalon's CeDeFi product, a unique offering in the DeFi space, also saw its TVL increase, with over $220 million now locked in.
The growth of Avalon Labs is not limited to the past week. In mid-September, the TVL stood at $440 million, indicating a steady upward trend. The surge in TVL can be attributed to various factors, including the recent rise in the Bitcoin price, which gained 5% on November 6.
Avalon Labs, rebranded from Avalon Finance and launched the first CeDeFi platform in April 2024, has been making waves in the DeFi landscape. The company has been advocating for clearer blockchain regulations in the U.S., supporting the Blockchain Regulatory Certainty Act (BRCA), which could positively impact the broader crypto ecosystem.
In terms of token distribution, the total maximum supply of Avalon Labs' $AVL token is 1 billion. The distribution includes allocations for community incentives, airdrops, investors, ecosystem and treasury, team, initial liquidity, and advisors. There are upcoming unlock events, but no specific details on Bitcoin-related tokens are provided.
Avalon Labs is compatible with 13 blockchain networks, further expanding its reach and potential for growth. The company's partnerships, including its association with Merlin Chain, a BTC Layer2 network, reflect its commitment to fostering innovation in the Bitcoin decentralized finance landscape. However, specific information about the growth rate or the TVL of Avalon Labs' Bitcoin-related tokens since the rebranding from Avalon Finance is not currently available.
In light of the recent surge in the Bitcoins price, the news of Avalon Labs' total value locked (TVL) surpassing $1.1 billion has emerged, with the DeFi lending platform holding nearly $795 million. Investors are intrigued by Avalon Finance's unique CeDeFi product, where over $220 million is currently locked in. Given Avalon Labs' commitment to fostering technology-driven innovation, it aims to impact the broader crypto ecosystem via clearer blockchain regulations, as it advocates for the Blockchain Regulatory Certainty Act (BRCA).
