March 15, 2023, 11:19AM EDT
• 5 min read

February Cross-Chain Bridge Recap

Quick Take

  • This piece provides a recap of some of the key metrics and insights in the cross-chain bridge landscape in February 2023.
  • Cross-chain bridge TVL increased overall for the second straight month of 2023, led by greater capital flows to the Arbitrum One and Optimism bridges
  • Monthly volume on multi-chain bridges increased by about 16%, with LayerZero’s Stargate bridge seeing significant gains in both TVL and stablecoin volume
  • Among two-chain canonical bridges, TVL continued to skew toward L2 chains, where stablecoins also command a major presence in cross-chain activity

Join The Block Research for exclusive research like this

Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.

Already a Research Member? Login Here