Babylon’s BABY token surged 52.7% following its listing on South Korea’s largest exchange, Upbit, which led to a trading volume spike between $100 million and $250 million in 24 hours. The token enables Bitcoin staking directly on the Bitcoin blockchain without intermediaries, supporting other networks and governance. Recent developments include a16z’s $15 million investment and Babylon’s launch of a testnet for Trustless Bitcoin Vaults, allowing BTC collateral use without custody loss. Despite its current $50-$55 million market cap, Babylon’s protocol has previously locked over $2 billion, indicating significant growth potential as it integrates into DeFi platforms like Aave.
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