Multi-Billion Dollar Growth: Top Cross-Chain Bridges Surpass $14 Billion TVL

As of September 16, cross-chain bridges had a Total Locked Value (TVL) of around $ 7.79 billion and have since grown by 90% to $ 14.75 billion. The best known are Polygon Bridge with $ 4.5 billion, Fantom Anyswap Bridge with $ 4.1 billion, and Avalanche Bridge with $ 3.2 billion.

Cross-chain bridge is thriving

DeFi and cross-chain bridges have continued to increase in value this year. A cross-chain bridge allows users to connect to another blockchain so that users can exchange assets between different blockchains.

Source: Dune Analytics

On September 16, metrics from “Bridge Away (L1 Ethereum)” from blockchain analysis tool Dune Analytics showed that cross-chain bridges closed a total of $ 7.79 billion (TVL).

Since then, TVL has grown 90% to $ 14.75 billion, according to statistics. The “Bridge Away” panel shows bridges such as Harmony, Loopring, Optics, Boba, Zksync, Near, Solana, Fantom, Polygon, Avalanche, Optimism, Arbitrum, Xdai, Celo, BSC, Moonriver and RSK.

Polygon holds the top spot, Loopring has the cheapest transfer fee

In the past 30 days, data logger measured 121,882 unique addresses associated with these various bridges. At the time of writing, Polygon holds $ 4.5 billion in TVL and Fantom Anyswap Bridge holds $ 4.1 billion.

Fantom is followed by Avalanche, Arbitrum, Optimism, Zksync, Solana, Harmony, Xdai and Moonriver. Both WETH and ETH top the wealth rankings, while Stablecoin USDC ranks third.

After USDC, WBTC, USDT, MATIC and DAI follow in terms of asset ratings. Chainlink (LINK) ranks seventh among the top assets used on cross-chain bridges. Data from l2fees.info shows that the current cost of transferring ETH via Loopring is $ 0.17 per transaction, Polygon Hermez $ 0.25 per transfer, Zksync $ 0.26, Optimism 0.97 $ and Arbitrum One 1 .88 USD.

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