Backfill entry Dating honesty: Kraken's AVL listing went live on August 27, 2026, eight days before we added this page. We missed it in the week of Jackson Hole and the Iran strikes, and we are adding it now because a major US exchange listing belongs on the board. Nothing new happened this week; this is the tracker catching up, not fresh news.
Kraken's listing notices are short by design, and the one for Avalon Labs was no exception: AVL funding and trading live as of August 27, 2026, app and Instant Buy support to follow once liquidity conditions are met, deposit only on supported networks, geographic restrictions may apply. What the notice does not say is the part that makes this listing worth a page. AVL arrived on Kraken nineteen months after its debut, one week after printing its all-time low, and at a price roughly 98 percent below where it first traded. A US exchange adding a token at the bottom of a drawdown that deep is either a bet on the protocol's second act or a routine expansion of a long tail; we do not know which, and the shape of the chart is the reason we are writing carefully.
A Bitcoin lending stack with a stablecoin in the middle
Avalon Labs describes itself, in Kraken's words, as an on-chain financial ecosystem for Bitcoin that bridges decentralized finance and traditional financial services. The pieces, per Kraken and Gate Learn, are a BTC-backed lending business, a Bitcoin-backed stablecoin called USDa, and yield products layered on top. The lending side runs two models at once: a CeDeFi arm that connects on-chain borrowers to institutional liquidity providers, and a decentralized protocol built on isolated pools that accept Bitcoin liquid staking tokens and Bitcoin derivatives as collateral. USDa is the product that ties it together, a dollar minted against Bitcoin collateral that the protocol then uses as the unit for its lending and savings products. Gate Learn has reported USDa's total value locked above $800 million, and DefiLlama tracks the protocol's combined lending and stablecoin balances; we cite those as reported figures rather than numbers we have audited, because TVL in Bitcoin-collateral protocols moves with the price of the collateral as much as with user demand.
The token sits on top of that. AVL is the governance asset, with a fixed total supply of 1 billion; staking it produces sAVL, which carries voting power in the protocol's governance, fee rebates, and access to ecosystem incentive allocations, per Kraken. That is a conventional design, and conventional designs live or die on whether the underlying business generates fees that governance can direct. On that question the market has voted with unusual clarity.
Bybit deposits open at 10:00 UTC.
Trading opens; ATH set the same day.
About $0.011 to $0.015 per source.
App and Instant Buy once liquidity allows.
The chart Kraken is listing into
AVL's history is compressed into two dates. The all-time high came on listing day, February 12, 2025, at $1.36 per CryptoRank or $1.44 per CoinMarketCap, the familiar shape of a token whose first print is its best. The all-time low came in the week before Kraken's notice, $0.01506 on August 19 per CryptoRank or $0.01101 on August 20 per CoinMarketCap. As of our September 4, 2026 check the token trades around $0.021, up on the day at both trackers but still roughly 98 percent below the high, on daily volume of about $690,000 to $780,000. The supply picture is where the sources part ways, and we think readers should see the disagreement rather than a blended number: CryptoRank reports about 388 million AVL circulating, 38.8 percent of the maximum, for a market cap near $8.25 million, while CoinMarketCap reports about 162 million circulating, 16.2 percent, for a market cap near $3.42 million. A token whose circulating supply differs by a factor of two between the two most-used trackers is a token whose unlock schedule and treasury movements are not being reported consistently, and that alone is a reason to read the tokenomics before the chart.
What a Kraken listing does for a token like this is the question we keep returning to in the exchange listings guide: it adds a regulated US venue and a new set of eyes, and it does nothing about the reason the price is where it is. Kraken's own notice hedges the same way, holding back app and Instant Buy support until liquidity develops, which is the venue saying that the order book has to prove itself before the retail surface opens. For comparison, KiiChain's KII reached Kraken days after its public sale and round-tripped 90 percent inside eight days; Euler's EUL reached Upbit as a rebuilt protocol with a billion-dollar balance sheet and a token still deep under water. AVL is closer to the second case in business terms and to neither in price terms. We will update the events list if further venues appear, and the status stays listed. Nothing here is trading advice; a token 98 percent below its high is a data point about the past, not a forecast.
Not financial advice Listings often spike and then bleed once the initial hype unwinds. Nothing here is a suggestion to buy this token. Verify dates on the exchange's own announcement page before trading: schedules slip.
