Footprint Analytics

What are cross-chain bridges and why do they matter?

Oct, 2021, Maxine Data Source:Footprint Analytics While DeFi promises a world where people can transfer their money without the hassle and transaction fees of banks, anybody who has tried to convert some ETH to some BNB recently knows it’s not so simple.  Gas fees make cross-chain transactions very expensive, hindering the free flow of crypto assets.  So it’s not surprising that cross-chain bridges have grown at an unprecedented rate—a TVL increase of 89% MoM in October—as DeFi transaction volume booms in the bull market.  However, did you know that cross-chain