Debridge Facilitates $427M in Cross-Chain Transactions, Solana Sees $100M Outflow
Debridge, a decentralized cross-chain bridge, has seen significant activity in the past week. Meanwhile, Solana has experienced substantial outflows, with a notable transfer facilitated by Debridge.
Debridge has processed 72,781 on-chain transactions in the last seven days, with a total volume of $427 million. This high volume and transaction count indicate strong adoption, with an average of $61 million per day and around 10,397 daily transactions. The platform's low-fee, high-liquidity model aims to minimize risks associated with cross-chain transfers.
Recently, Solana saw a $100 million outflow, bringing its total outflows to around $333 million. This outflow represents 30% of all outflows during that period. The transfer was facilitated by Debridge, with Solana moving funds to the BNB Chain. This shift underscores the dynamics of the ecosystem, with costs, speed, and staking rewards playing a significant role. Stablecoins are particularly useful in such transfers, as they mitigate volatility risk.
Debridge's growing presence in cross-chain finance is evident in its recent activity. Despite the risks associated with cross-chain bridges, totaling $2.1 billion in hacks in 2022, platforms like Debridge continue to facilitate significant transactions. As ecosystems evolve, so do the dynamics of cost, speed, and rewards, driving changes in the flow of funds between different blockchains.
