Avalon Labs, a yield farming and lending protocol for Bitcoin-related tokens, has surpassed the $1 billion mark in total value locked (TVL) as Bitcoin reached a new record of $75,000. According to DeFiLlama, Avalon’s liquidity value increased by over 25% in the past week, reaching $1.1 billion. This growth is attributed to a recovery in token deposits and a significant rise in Bitcoin's price.

Avalon Labs, rebranded from Avalon Finance, launched the first CeDeFi platform in April 2024. The CeDeFi product, focusing on Bitcoin-related tokens, has seen its TVL rise to over $220 million.