Polygon-Ethereum ERC-20 Bridge Is the Most Active, Locks $2.18 Billion

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NewsBTC 2 mo ago

Polygon-Ethereum ERC-20 Bridge Is the Most Active, Locks $2.18 Billion - NewsBTC

Quick Summary:

Another Plasma bridge, connecting Ethereum and Polygon, is also the third most active, locking over $894 million as of press time. Related Reading: Ethereum Price Consolidates Below $1,650 As The Bulls Aim Another Rally The Arbitrum: L1 Custom Gateway, Arbitrum: L1 ERC20 Gateway, the Optimism: Gateway; and the Polygon (Matic): Ether Bridge connectors locked significant amounts of tokens.

Therefore, while billions of assets are locked in DeFi and NFT platforms, other ecosystems that might be active and trying to link their communities may only succeed with secure bridges. Besides moving value between blockchains, Bridges are also beneficial in transferring vital data.

Polygon-Ethereum Bridge Dominant As of January 23, there were $2.18 billion of assets locked in the Ethereum-Polygon ERC-20 Bridge, almost twice the value of assets locked between the Ethereum and Arbitrum bridge which, at the time of writing, stood at $1.36 billion.