{"id":13024,"date":"2021-10-10T14:54:10","date_gmt":"2021-10-10T14:54:10","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/cross-chain-bridge-value-increases-by-89-in-less-than-a-month-surpassing-14-billion-tvl\/"},"modified":"2021-10-10T14:54:10","modified_gmt":"2021-10-10T14:54:10","slug":"cross-chain-bridge-value-increases-by-89-in-less-than-a-month-surpassing-14-billion-tvl","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/cross-chain-bridge-value-increases-by-89-in-less-than-a-month-surpassing-14-billion-tvl\/","title":{"rendered":"Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL"},"content":{"rendered":"

23 days ago on September 16, cross-chain bridges held around $7.79 billion total value locked (TVL) and since then the TVL has increased 89% since then to $14.75 billion. Currently, the top bridges include network connections like Polygon Bridges with $4.5 billion, Fantom Anyswap Bridge with $4.1 billion, and the Avalanche Bridge with $3.2 billion.<\/strong><\/p>\n

Cross-Chain Bridge Technology Swells<\/h2>\n

Decentralized finance (defi) and cross-chain bridge technology have continued to grow in value this year. A cross-chain bridge allows users to connect to another blockchain, which in most cross-chain cases the other network has been the Ethereum chain, and users can swap assets back and forth between each blockchain.<\/p>\n<\/p>\n

Last month, Bitcoin.com News reported on an in-depth study that covers the myriad of multi-chain bridges that exist today. At that time on September 16, metrics from Dune Analytics<\/a>\u2019 \u201cBridge Away (L1 Ethereum)\u201d dashboard indicated that bridges held $7.79 billion total value locked (TVL).<\/p>\n<\/p>\n

Since then statistics show the TVL has increased by 89% to $14.75 billion in value today. The \u201cBridge Away\u201d dashboard shows bridges stemming from Harmony, Optics, Boba, Zksync, Near, Solana, Fantom, Polygon, Avalanche, Optimism, Arbitrum, Xdai, Celo, BSC, Moonriver, and RSK.<\/p>\n

Polygon Holds Top Position, Loopring Transfers Are the Cheapest<\/h2>\n

During the last 30 days, the records measured 121,882 unique addresses associated with these different bridges. At the time of writing, Polygon holds the largest TVL capturing $4.5 billion and the Fantom Anyswap Bridge commands $4.1 billion.<\/p>\n<\/p>\n

Fantom\u2019s bridge is followed by Avalanche, Arbitrum, Optimism, Zksync, Solana, Harmony, Xdai, and Moonriver respectively. Both WETH and ETH<\/a> have the top spot in terms of asset rankings while the stablecoin USDC runs in the third position.<\/p>\n<\/p>\n

USDC is followed by WBTC, USDT<\/a>, MATIC, and DAI as far as asset rankings are concerned. Chainlink (LINK) holds the seventh position among the top assets leveraged on cross-chain bridges. Data from l2fees.info<\/a> indicates that the current cost to transfer ether via Loopring is $0.17 per transaction. Polygon Hermez is $0.25 per transfer, Zksync $0.26, Optimism $0.97, and Arbitrum One is $1.88 per transfer.<\/p>\n

What do you think about the cross-chain bridge technology swelling in value and the transfer fees tied to specific Layer 2 (L2) protocols? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nDefi, Arbitrum Bridges, Avalanche Bridge, Blockchain, Bridge, Bridges, Cross-chain, Dmitriy Berenzon, ETH, Fantom Anyswap Bridge, Harmony Bridges, Multi-Chain, multi-chain ecosystem, multi-chain study, Near Rainbow Bridge, Optimism ERC20 Bridges, Polygon ERC20 Bridge, Research, researcher, Solana Wormhole, study, WBTC, WETH, wrapped bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

23 days ago on September 16, cross-chain bridges held around $7.79 billion total value locked (TVL) and since then the TVL has increased 89% since then to $14.75 billion. Currently, the top bridges include network connections like Polygon Bridges with $4.5 billion, Fantom Anyswap Bridge with $4.1 billion, and the Avalanche Bridge with $3.2 billion.…<\/p>\n","protected":false},"author":0,"featured_media":13025,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13024"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13024"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13025"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}