Total Closed Value on Cross-Chain Challenge Bridges Exceeds $22 Billion, Jumping 48% in 30 Days – Defi Bitcoin News – News Couple

Total Closed Value on Cross-Chain Challenge Bridges Exceeds $22 Billion, Jumping 48% in 30 Days – Defi Bitcoin News

On October 29, the total value locked (TVL) in decentralized finance (defi) protocols was approximately $243 billion with Curve taking 7.76% of the dominance. Meanwhile, with Ethereum having the largest dominance of TVL in the challenge, the number of alternative blockchains is seeing significant increases every week. Moreover, TVL in cross-chain bridge technology reached $22.48 billion, up 48.8% from last month.

Defi Total Value Locked Hovers Over $240 Billion Avalanche, Fantom, Polygon, Tron, Arbiter TVLs in Defi increase

The total value booked in decentralized finance applications has continued to rise this year, reaching new heights. Data from the dashboard shows TVL on Friday at $243 billion with Curve at $18.91 at 7.76%. The specific protocol curve supports seven different chains, which means that users can access bridge technology across the chain to take advantage of the decentralized exchange (dex).

Statistics show that Ethereum (ETH) remains the dominant challenge chain with a value of $164.75 billion out of 243 billion TVL in total. Although Ethereum is a big part of the challenge pie, blockchains like Avalanche, Fantom, Polygon, and Tron have seen a significant increase in TVLs last week. The avalanche’s TVL is up 10.44% over the past seven days, while Tron’s TVL is up 18.76%.

TVLs across the chain are up 48% this month More than $22 billion total closed value

Fantom’s TVL saw a huge jump in the last week as it collected 31.21% more in TVL. Meanwhile, Solana and Terra both saw much smaller increases in the past week with Solana capturing 0.44% and Terra jumping just 0.79%. Arbitrum has seen TVL increase by 24.58% this week and Polygon (MATIC) is up 4.41%. TVL on Binance Smart Chain (BSC) is down 6.15% this week, but it is still the second largest TVL after Ethereum.

Total value locked into Challenge Bridges across the chains exceeded $22 billion, jumping 48% in 30 days
Cross-chain bridges to Ethereum on October 29, 2021, according to statistics from Dune Analytics.

This week, TVL cross-bridge inflated by 48.8% over the past month and on Friday, the price of TVL cross-bridge reached $22.48 billion. Statistics from Dune Analytics show the Ronin Bridge increased 2% last week to $5.3 billion. The Dune Analytics Chain Bridge Dashboard called “Bridge Away (L1 Ethereum)” shows 16 different bridges from chains such as Avalanche, Arbitrum, BSC Anyswap, Boba Network, Fantom Anyswap, Harmony Bridges and more.

The assets that require the most activity in cross-chain bridges include tokens such as WETH, ETH, AXS, USDC, WBTC, MATIC, USDT, and DAI, respectively. In terms of WETH/ETH, TVL in cross bridges is worth about $7,062,594,503 on Friday morning.

What do you think of the growing amount of money in chain bridge technology over the past month? Tell us what you think about it in the comments section below.

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Arbitrum Bridges, Avalanche Bridge, Blockchain, Bridge, Bridges, Cross-chain, Dmitriy Berenzon, ETH, Fantom Anyswap Bridge, Harmony Bridges, multi-chain, multi-chain ecosystem, near rainbow bridge, optimism ERC20 Bridges, Polygon Bridge ERC20, Researcher Solana Wormhole Research WBTC WETH Study Wrapped Bitcoin

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

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