PANews reported on September 12th that, according to The Defiant, the Avalanche blockchain's total value locked (TVL) has doubled to approximately $2.1 billion since April, primarily driven by institutional capital inflows, the expansion of the gaming ecosystem, and network upgrades. Earlier this year, the Octane upgrade reduced gas fees, and VanEck and SkyBridge Capital announced the establishment of funds and the migration of assets to Avalanche, respectively. On-chain transaction volume exceeded 1.4 billion in the first half of 2025. Experts point out that TVL growth relies on institutional demand, and its sustainability remains to be seen.