Solana’s cumulative inbound bridge volume since its inception in 2021 has surpassed $10.1 billion, representing a remarkable 114% increase over its total volume as of February 2024, which stood at $4.7 billion.
On February 10, analyst h4wk’s Flipside data dashboard revealed that Solana’s crypto bridges had hit a total inbound volume of $10.1 billion. The data highlighted that USD Coin (USDC) was the most-bridged asset in Solana’s ecosystem, registering $3.9 billion in all-time inbound volume and $4.7 billion in outbound volume.
Ether (ETH) followed closely as the second most-bridged asset, achieving approximately $2 billion in both inbound and outbound volumes. Solana’s native token, SOL, ranked third with an inbound volume of $1.5 billion and an outbound volume of $1 billion.
Among Solana’s bridges, Wormhole remains the most-utilized platform, contributing a significant $7.3 billion in all-time bridge volume. However, Wormhole has experienced a slight decline in its dominance over time. This has paved the way for deBridge, Wormhole’s competitor, to close the gap. Notably, deBridge surpassed Wormhole by 12% in terms of weekly bridge volumes during February 2024.
Solana Bridge Volume Jumps 114% Year-on-Year
According to available data, Solana’s total inbound bridge volume from its launch until February 12, 2024, was $4.7 billion. This implies that the blockchain’s inbound volume grew by 114% within just one year, significantly outperforming its combined historical volume across previous years.
Data from DeFi analytics platform DefiLlama indicates that Solana’s bridges witnessed relatively subdued activity during the first ten months of 2024. However, the network experienced a massive surge in bridge volumes between November 2024 and January 2025, during which Solana bridges processed more than $6 billion.
In November 2024 alone, Solana bridges reached a monthly volume of $1.1 billion. December saw a substantial uptick to $2.5 billion, followed by another increase to $3.2 billion in January 2025.
Despite Solana’s impressive bridge volume growth, its numbers remain small compared to Ethereum’s bridge volumes. During the same period, Ethereum bridges processed an astounding $38 billion in total inbound volume. Ethereum’s bridge volumes remained consistently robust throughout 2024, with the lowest monthly volume recorded at $5.1 billion in April.
Read Also: US Crypto Exchange Coinbase Plans a Comeback in India
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
Comments are closed.