#ChristmasMarketAnalysis
Avalon Labs just raised $10 million to develop a Bitcoin-backed stablecoin! ๐ฅ It's not just about storing BTC, it's about unlocking new potential in the DeFi world! ๐ก
Just imagine, you can collateralize BTC to get a fixed loan interest rate of 8%! ๐ฆ Meanwhile, its TVL has reached $700 million! Is this a sign that BTC is becoming more of a financial instrument than just a 'store of value'? ๐ค
What do you think? Will 2024 be the year Bitcoin plunges into the DeFi world? Drop your thoughts in the comments! ๐
