Wu said that according to DeFiLlama data, the TVL of the Bitcoin scaling solution Bitlayer on-chain protocol has increased by more than 50% to about $375 million in the past month, becoming the Sidechains with the largest protocol TVL in the Bitcoin ecosystem, of which the lending protocol Avalon Finance accounts for 53.3%. However, if the assets stored in wallets that have not been invested in the protocol are taken into account, Merlin should still be the Bitcoin scaling network with the largest on-chain asset value (TVB), reaching $1.284 billion.
