According to Foresight News, official data shows that the Bitcoin stablecoin USDa issued by Avalon Labs has surpassed a circulation of 200 million units just two weeks after its launch, with a seven-day growth rate of 100%. USDa has become the third largest over-collateralized stablecoin (CDP) after MakerDAO (DAI) and JustStables (USDJ).
Avalon Labs is the infrastructure platform in the BTCFi space, currently managing a total locked value (TVL) of over 1.8 billion dollars, 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 Season 8 accelerator program.
