Bitcoin stablecoin USDa's circulation surpasses 200 million, ranking as the third largest CDP, second only to MakerDAO and USDJ

BlockBeats news, on November 26, data shows that just two weeks after its launch, the Bitcoin stablecoin USDa issued by Avalon Labs has surpassed a circulation of 200 million, with a seven-day growth rate of up to 100%. Meanwhile, USDa has also become the world's third largest over-collateralized stablecoin (CDP) after MakerDAO (DAI) and JustStables (USDJ). This marks the official entry of Bitcoin stablecoins into the mainstream stablecoin space.

Avalon Labs is the infrastructure platform in the BTCFi space, currently managing a total value locked (TVL) of over $1.8 billion, equivalent to approximately 20,000 bitcoins. Avalon Labs won the second round of the BNB incubation program and was selected as part of the MVB8 eighth season accelerator program.