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Avalanche Bridge Launches Native Bitcoin Support; AVAX Surges 7.4%
The AVAX token is beginning to gain some upside momentum despite a drop-off in DeFi activity.
Updated May 11, 2023, 5:38 p.m. Published Jun 23, 2022, 1:12 p.m.
Smart contracts platform Avalanche added support for native bitcoin in its cross-chain bridge, according to a blog post.
- The network's native token, AVAX, surged 7.4%, outperforming bitcoin and ether , which are up 0.64% and 2.34%, respectively.
- The addition allows users to bridge native bitcoin and gain exposure to Avalanche's DeFi ecosystem by using the newly launched 'Core' wallet.
- The BTC pool on AVAX-based decentralized finance (DeFi) protocol Platypus has $11.7 million in total value locked (TVL) and offers yields of between 23.72% and 62.84%.
- A BTC.b to AVAX pool has also opened up on rival platform TraderJoe with yields of 17.5%.
- The Avalanche bridge launched last August, supporting transfers of ERC20 tokens between the Ethereum and Avalanche networks.
- There is currently $2.68 billion in TVL across the Avalanche ecosystem, according to DefiLlama, which marks an $11 billion drop from December as the DeFi sector recedes amid concerns over lending protocols.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
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