As the Ethereum blockchain continues to experience scaling and transaction fees issues, exploring alternative ecosystems becomes necessary. However, many blockchains want to provide support for Ethereum-based applications and developers. Therefore, it has given rise to various Ethereum bridges to create an interconnected blockchain industry. 

Ethereum Bridges Gain Momentum

Instead of creating more siloed environments in which apps only run on one blockchain, the cross-chain approach is a vast improvement. The true potential of blockchain, DeFi, NFTs, and whatnot hinges on interconnected ecosystems. Not only will it provide more liquidity, but it also allows for ongoing technological innovation. Blockchain should make life easier for people, rather than making them figure out which product or service exists on what platform.

However, for many projects, it will prove beneficial to maintain a bridge to Ethereum. That bridge lets developers expand their solutions to Ethereum or access other ecosystems alongside Ethereum to gain more momentum. Various Ethereum bridges exist today, providing a cheaper and more efficient solution for multiple purposes. That explains why there is over $7.6 billion in total value locked across the most prominent bridges.

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Source: Dune Analytics

As things stand, Arbitrum bridges represent the most TVL, followed by Polygon and Avalanche. A surprising top three in that order, although it shows competition is heating up in this department. Ethereum bridges can provide tremendous functionality and benefits, and they are all worth exploring. However, getting users to move their value to such a bridge will remain the primary hurdle to overcome.

For the other Ethereum bridges, the TVL is significantly lower. Fantom, Solana, Harmony, Optimism, and Near have between $16.3 and $193.1 million in TVL. Interestingly, Optimism and Near note very big weekly TVl changes. Solana dropped the hardest with a 2% decrease for Wormhole, which is somewhat surprising. One would expect a Solana-Ethereum bridge to be of more interest than it is today. 

Popular Assets Across Ethereum Bridges

While the Total Value Locked is a strong indicator of how popular these bridges are, it is crucial to look at which assets are being used. Wrapped Ether or Ether is, of course, the most popular option of them all. USDC and Wrapped Bitcoin complete the top three, which is a bit more intriguing. Wrapped Bitcoin on Ethereum has always been a peculiar creature, yet it seems these bridges facilitate over $1.1 billion in TVL for this asset. 

Source: Dune Analytics

It is also interesting to see how USDC has nearly twice the TVL of USDT and more than double the DAI TVL. Stablecoins are such an integral part of cryptocurrency these days; one would almost forget there are many opportunities for such assets on Ethereum bridges. LINK, UST, AAVE, and HUSD are all in the top 9, too, making for an exciting collection of assets.