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

Polygon-Ethereum ERC-20 Bridge Is the Most Active, Locks $2.18 Billion
The Ethereum-Polygon ERC-20 bridge is the most active, data on January 23 reveals. 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. 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. Meanwhile, dYdX: L2 Perpetual Smart Contract; Synthetix: L2 Deposit Escrow; and AnySwap: Fantom Bridge were the other links that capped the top 10 most active. Bridges are essential for ETH. Since the blockchain is not inherently interoperable, unlike most competing blockchains designed using the Cosmos Core, bridges are indispensable for a functional ecosystem benefiting end users. Most protocols strive to connect their ecosystems to ETH. As of late January 2023, th ..

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