$BABY surged 52.7% in 24 hours after Upbit listed the Babylon token with KRW trading, pushing volume past $100 million. The move placed a tiny $50M–$55M market cap asset in front of South Korea’s highly active retail base.
Babylon’s protocol previously locked over $2 billion in
$BTC staking, and a16z’s $15M investment in January targeted its trustless BTCVaults product. A testnet for those vaults went live in May, alongside a proposal to integrate native BTC as collateral on
$AAVE.
With only 36.7% of total supply circulating, future unlock risk remains, but the listing and expanding DeFi pipelines signal strong institutional and retail interest in Bitcoin-secured lending.