Debridge Facilitates $100M Solana to BNB Chain Transfer, Surpasses Competitors
Debridge, a decentralized cross-chain bridge compatible with multiple blockchains, has seen significant activity. Recently, around $100 million was transferred from Solana to BNB Chain via Debridge, representing 30% of the total output in that period.
Debridge's weekly volume has surpassed competitors like Wormhole, indicating its growing presence in cross-chain finance. In the last 7 days, Debridge facilitated 72,781 cross-chain transactions, totaling $427 million. This averages to around $61 million and approximately 10,397 transactions per day.
The entity conducting the most cross-chain transactions on Debridge in the last week is 'Multichain Router'. This activity reflects the maturing and volatile crypto environment, with cross-chain activities presenting promising prospects but also regulatory and security risks.
Solana's $100 million outflow, bringing the total outflow to around $333 million, highlights dynamics around cost, speed, and staking rewards within the ecosystem. Despite these risks, Debridge's low-cost, high-liquidity model aims to mitigate them, with a total of $2.1 billion hacked from bridges in 2022.
Debridge's recent activity, including facilitating a $100 million transfer from Solana to BNB Chain, demonstrates its growing role in cross-chain finance. Despite the risks, Debridge's model aims to provide a secure and efficient service in this evolving landscape.
