Babylon total value locked drops 32% as wallets unstake $1.2B in Bitcoin

Bitcoin Unstaking Triggers 32% TVL Decline for Babylon Amid Transition to New Providers

The post Bitcoin Unstaking Triggers 32% TVL Decline for Babylon Amid Transition to New Providers appeared on BitcoinEthereumNews.com. In a significant event for the decentralized finance (DeFi) community, Babylon experienced a considerable BTC unstaking wave, impacting its financial metrics. The incident marks a pivotal moment for both Babylon and the broader Bitcoin DeFi ecosystem, showcasing the volatility that can influence decentralized prot…

Babylon Sheds $1.3 Billion in TVL After Mass Bitcoin Unstaking

The total value locked (TVL) in Babylon, a Bitcoin staking platform, plunged by a third on April 17 after $1.3 billion worth of BTC was unstaked from the platform. Data from DeFiLlama confirms that Babylon’s TVL dropped to $2.69 billion from just around $4 billion on Apr. 16.Its recently launched native token, BABY, is down by 14% in the past day, according to Coingecko data. While it’s normal for DeFi protocols to record outflows after their to…

Bitcoin Staking Protocol Babylon Sees $1.26 Billion Unstaked

Bitcoin staking protocol Babylon experienced a significant withdrawal on April 17, with $1.26 billion worth of Bitcoin unstaked from its platform. According to blockchain analytics firm Lookonchain, several addresses removed a total of 14,929 Bitcoin from the staking platform.The security firm identified four addresses that had unstaked varying amounts: 299 BTC, 499 BTC, 1,000 BTC, and 13,129 BTC. One address was responsible for the majority of …

Bitcoin Faces Sudden Jolt as $1.26 Billion Worth of BTC Unstaked From Babylon.

The post Bitcoin Faces Sudden Jolt as $1.26 Billion Worth of BTC Unstaked From Babylon. appeared first on Coinworldstory. Around $1.26 billion worth of Bitcoin was unstaked from Babylon in a single move, sparking fresh speculation across the crypto market. According to Lookonchain, the BTC was split across multiple wallets, raising concerns over potential institutional involvement and triggering a brief market reaction. The post Bitcoin Faces Su…

Babylon suffered a withdrawal of 14,929 BTC, or $1.26 billion, resulting in a 32% drop in its TVL in one day, mainly caused by four major addresses. The transaction would be linked to a planned transition to a new group of validators, according to Lombard Finance, which promises a restake of funds after the period of untying. The blurring of the origin of the funds and the post-airdrop context raise speculations, but Babylon remains a key player…

CoinStats - Bitcoin Unstaking Event Reduces Babylon Labs’...

Babylon Labs recently triggered significant market movements by unstaking $1.26 billion in Bitcoin (BTC), reshaping its landscape in the DeFi sector. As a direct result, Babylon’s total value locked (TVL) […]