Avalon Labs AVL token rally after Yzi Labs announces investment
Avalon Labs (AVL) rallied by over 30%, rising vertically to a one-month high. The asset gained attention after Yzi Labs announced Avalon Labs as its next investment.
Yzi Labs (formerly Binance Labs) announced its next investment project. After the news, the native AVL token rallied by over 30%, going vertical after weeks of flat price action.
The AVL token traded at above $0.30, entering a turbulent period of hype. AVL is still down from its all-time peak of $0.75, achieved on March 10.
AVL tokens have been trading since February when the airdrop was completed. Currently, only 16.6% of AVL tokens are unlocked, with multiple new token releases expected in the coming months. Around 161M AVL are in circulation out of the total supply of 1B tokens.
AVL still depends mostly on PancakeSwap and other DEX. The involvement of Yzi Labs suggests AVL may gain more attention as part of the Binance ecosystem. AVL is an Ethereum-based token and will be an improbable selection for Binance Alpha, but the involvement of Yzi Labs may lead to more listings and support for AVL.
Avalon Labs taps Bitcoin DeFi trend
Avalon Labs is part of the Bitcoin DeFi trend, offering on-chain trading and lending with BTC as collateral. Avalon’s trading product is fully on-chain, transparent, and accessible to anyone.
Avalon Labs already locks in $1.22B, down from over $2B in January. So far, the protocol carries $46.91 in collateralized loans. Despite the recent BTC rally, Avalon Labs operates at a smaller scale compared to Babylon Labs. As with other protocols, the value locked sometimes decreases with the end of the airdrop program.
Bitcoin’s DeFi ecosystem has grown its value locked to $6.69B, led by Babylon Labs. Of that amount, $5.4B is staked with Babylon. However, smaller platforms are accruing their own collaterals.
Yzi Labs resumes investments
Avalon Labs is the first project to receive backing from Yzi Labs since April 30. For the past three months, the platform only backed five hand-picked projects. Yzi Labs focused on rounds between $3M and $10M.
‘At YZi Labs, we back projects with strong fundamentals that have the potential to revolutionize industries and create long-term impact,’ said Alex Odagiu, investment director at YZi Labs.
Avalon Labs aims to become the largest issuer of stablecoins backed by BTC, unlocking the underlying value of the leading coin. Avalon Labs drew attention as the Season 8 winner of the Most Valuable Builder event. The program is a special incubator led by BNB Smart Chain, Yzi Labs, and CoinMarketCap.
Avalon Labs already reports 20,000 non-custodial BTC as backing, linked to 300K reported daily active users. Avalon Labs is also the second-largest protocol based on Collateralized Debt Position (CDP). The project has issued over $613M in its USDa stablecoin, second only to DAI/USDS by Sky Protocol.
Avalon Labs will use the funding from Yzi Labs to become compliant in several jurisdictions. The protocol’s goal is to become viable for institutional users and create a public fund for BTC staking and institutional lending.
KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage
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Avalon Labs AVL token rally after Yzi Labs announces investment
Avalon Labs (AVL) rallied by over 30%, rising vertically to a one-month high. The asset gained attention after Yzi Labs announced Avalon Labs as its next investment.
Yzi Labs (formerly Binance Labs) announced its next investment project. After the news, the native AVL token rallied by over 30%, going vertical after weeks of flat price action.
The AVL token traded at above $0.30, entering a turbulent period of hype. AVL is still down from its all-time peak of $0.75, achieved on March 10.
AVL tokens have been trading since February when the airdrop was completed. Currently, only 16.6% of AVL tokens are unlocked, with multiple new token releases expected in the coming months. Around 161M AVL are in circulation out of the total supply of 1B tokens.
AVL still depends mostly on PancakeSwap and other DEX. The involvement of Yzi Labs suggests AVL may gain more attention as part of the Binance ecosystem. AVL is an Ethereum-based token and will be an improbable selection for Binance Alpha, but the involvement of Yzi Labs may lead to more listings and support for AVL.
Avalon Labs taps Bitcoin DeFi trend
Avalon Labs is part of the Bitcoin DeFi trend, offering on-chain trading and lending with BTC as collateral. Avalon’s trading product is fully on-chain, transparent, and accessible to anyone.
Avalon Labs already locks in $1.22B, down from over $2B in January. So far, the protocol carries $46.91 in collateralized loans. Despite the recent BTC rally, Avalon Labs operates at a smaller scale compared to Babylon Labs. As with other protocols, the value locked sometimes decreases with the end of the airdrop program.
Bitcoin’s DeFi ecosystem has grown its value locked to $6.69B, led by Babylon Labs. Of that amount, $5.4B is staked with Babylon. However, smaller platforms are accruing their own collaterals.
Yzi Labs resumes investments
Avalon Labs is the first project to receive backing from Yzi Labs since April 30. For the past three months, the platform only backed five hand-picked projects. Yzi Labs focused on rounds between $3M and $10M.
‘At YZi Labs, we back projects with strong fundamentals that have the potential to revolutionize industries and create long-term impact,’ said Alex Odagiu, investment director at YZi Labs.
Avalon Labs aims to become the largest issuer of stablecoins backed by BTC, unlocking the underlying value of the leading coin. Avalon Labs drew attention as the Season 8 winner of the Most Valuable Builder event. The program is a special incubator led by BNB Smart Chain, Yzi Labs, and CoinMarketCap.
Avalon Labs already reports 20,000 non-custodial BTC as backing, linked to 300K reported daily active users. Avalon Labs is also the second-largest protocol based on Collateralized Debt Position (CDP). The project has issued over $613M in its USDa stablecoin, second only to DAI/USDS by Sky Protocol.
Avalon Labs will use the funding from Yzi Labs to become compliant in several jurisdictions. The protocol’s goal is to become viable for institutional users and create a public fund for BTC staking and institutional lending.
KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage
Read More