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    The Bridge from Ethereum to Solana

    Create a visualization of the volume of assets being bridged from Ethereum to Solana over time via Wormhole. What does the average profile / size of wallets bridging to Solana from Ethereum look like (what is the average value of assets being bridged over)? What have been the most popular bridged assets from Ethereum to Solana and has that changed over time?

    Introduction

    What is solana?

    Solana is a public blockchain platform with smart contract functionality. Its native cryptocurrency is SOL. Solana offers low fees and fast transaction times. Solana smart contracts are written in Rust rather than solinity.

    What is the Wormhole Bridge?

    Wormhole is a communication bridge between Solana and other top decentralized finance (DeFi) networks. Existing projects, platforms, and communities are able to move tokenized assets seamlessly across blockchains and benefit from Solana's high speed and low cost. Currently the bridge is connected to the blockchains Aurora, Avalanche, Binance Smart Chain, Celo, Ethereum, Fantom, Karura, Oasis, and Terra Classic.

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    Methodology

    • We Will look at the asset transfers from Ethereum to Solana and vice versa using the wormhole bridge.

    • We will look at the following metrics:

      • Daily Volume Transferred by Asset

      • Average transfer size

      • Total transfer volume

    Wormhole ETH to SOL Bridge Metrics

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    Observations

    • Most weeks there are between $15 and $60 Million worth of tokens sent from Ethereum to Solana.

    • During the weeks of major price decline there are huge spikes of volume from Ethereum to Solana.

    • On average there transfers from Etherum to Solana are very large.

    Observations

    • The 4 largest tokes by volume make up about half of the asset transfers from Ethereum to Solana

    • Stablecoins seem to be the most popular token type to send over the bridge.

    Wormhole SOL to ETH Bridge Metrics

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    Observations

    • The Volume of SOl that was sent from Solana to Ethereum raged between 10,000 - 30,000 Each week.

    • The average size of a traders over Wormhole has been between 2 and 8 SOL in 2022.

    • The number of Transactions on Wormhole from Solana to Ethereum have been consistently increasing over 2022.

    Conclusion

    The total volume of assets being sent from Ethereum to solana is much larger than the assets sent from solana to etheum. Additionally the average size of ethereum to solana is about 100X the size of the opposite transaction. It seems that users who are sending assets from Ethereum to Solana are sensing assets less frequently, but in much greater volume. more people per day use the bride on the solana side, but the total volume is still much lower.