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    Cosmos Transfers: Hub vs Bridges (IBC In or Out)

    With numerous IBC launches in Q4 2023, Inter-Blockchain Communication Protocol (IBC) usage going through Cosmos Hub has skyrocketed. The 7-Day moving average shows a sustained increase of IBC In/Out transfers, exceeding Cosmos internal transfers for the first time since May 2023.

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    Noticeable spike in Inter-Blockchain Transfers happening via Cosmos Hub after falling into a lull since June 2023.

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    October 2023 is only the 3rd month with > 200K IBC Transfers this year. And recent launches of IBC chains have caused inter-blockchain transfers to out-pace generic Cosmos transfers for the first time since May 2023.