Despite Crypto Market Rout, total value in Cross-Chain Bridges jumps by 9% in 30 days-Defi

30 days ago, on October 28, the total value (TVL) in cross-chain-bridges in Ethereum was around $ 22.48 billion and, given the latest market dump, the TVL still rose by 9.56%. At the time of the letter there are 135,148 individual inserts and the Ronin Bridge from Axie Infinity holds the largest TVL.

Kreuz-Chain Bridge TVL continues to climb

During the total value of decentralized financing (defi) 258 billion US dollar , the TVL is divided into a variety of blockchains. These include blockchain networks such as Ethereum ( ETH ), Binance Smart Chain (BSC), Solana (SOL), Avalanche (Avax), Terra (Luna), Tron (Tron), Fantom (FTM) and Polygon (Matic).

Today, Ethereum commands $ 258 in defi or 65.89 % of the aggregate. Binance Smart Chain occupies $ 19.11 billion on Saturday, which only corresponds to 7.40% of the TVL. This weekend Solana has a TVL of $ 13.86 billion or 5.37 % of the total value blocked in Defi.

Many of these defi networks use a connection to the Ethereum Virtual Machine (EVM), which enables the protocols to do various things such as access to liquidity pools and stake tokens. Users use cross-chain-bridges to connect their assets to the EVM and use web3 wallets such as Metamask, Safepal and others.

Almost a month ago, on October 29, Bitcoin.com News reported over 22.48 billion US dollars TVL in cross-chain bridges in Ethereum. Since then, the TVL has risen by 9.56% to $ 24.63 billion, with the Ronin Bridge from Axie Infinity ahead. statistics by dune analytics show that there are 135,148 unique inserts that use cross-chain-bridge Network works for Ethereum.

In addition to Ronin, other cross-chain-bridges combine with blockchains such as avalanches, polygon, arbitrum, fantom, optimism, boba network and harmony. While Ronins Bridge-TVL is $ 7.4 billion, the AVAX TV, which is bound to cross-chain bridge technology, is $ 6.7 billion. Bridges such as Arbitrum and Optimism are used to use Ethereum transactions, but with lower fees.

The Ethereum fees have been decreased lately, since the average ether fee according to l2fees.info is 9.64 USD per transaction. However, the L2 fee (Layer 2) offered by Polygon Hermez is about $ 0.25, Arbitrum $ 2.78 per transfer and optimism $ 1.67 per transaction. The L2 fees offered by LoPring are $ 0.26 per transmission and ZKSYNC users today pay about 0.39 USD

What do you think of the increase in cross-chain bridge use in the past 30 days? Let us know your opinion on this topic in the comments below.

Photo credits : Shutterstock, Pixabay, Wiki Commons, Dune Analytics