Delving into the general activity of bridges, we observe a growing volume (deposits to bridge contracts) for cross-chain activity. Among them, Stargate Multichain and Arbitrum Bridge stand out as the primary bridges connecting various chains. Remarkably, the number of users relying on bridges has surged exponentially over the past month, skyrocketing from 200k weekly transactions to over 1 million. Now, let's examine some EVM chains:

In Avalanche, the primary bridges are Stargate and Celer Network, which together account for almost 100% of the market share, while Axelar has yet to make a significant impact.

Ethereum is the leading blockchain with $21.8B of assets moved. However, its monthly volume has been declining since November. Stargate and Celer Network are the predominant bridges, although many other bridges were once significant but have since lost their relevance.

Stargate and Celer are the leading bridges for Binance Smart Chain, with their dominance fluctuating from month to month. Axelar remains a minor player in this chain.

Polygon experienced peak bridge usage in June 2022 and November 2021, followed by a decline and subsequent resurgence. Numerous bridges are present, with Stargate regaining the most market share.

Arbitrum exhibits growing deposits to bridges, with Stargate gaining more market share from Hop Protocol and Celer Network.

Stargate, Celer Network, and Hop Protocol are the main bridges for Optimism, with Stargate capturing more market share from Celer Network, growing from 20% to 60%.

Cross-chain activity plays a crucial role in the blockchain ecosystem, transferring significant value through various bridge connections. Our analysis revealed several key insights:

• Stargate, Celer Network, and Arbitrum Bridge emerged as the primary bridges connecting various chains, with Stargate gaining the most growth recently.

• The number of users relying on bridges has surged exponentially over the past month, jumping from 200k weekly transactions to over 1 million.

• Some chains, such as Ethereum, experienced a decline in monthly volume since November, while others like Avalanche, Optimism, and Arbitrum showed growing deposits to bridges.

• In most chains, including Binance Smart Chain and Polygon, Stargate and Celer Network dominate the market share. However, their dominance fluctuates from month to month, and other bridges like Hop Protocol have gained traction in specific chains.

• It's essential to consider that our data does not include centralized exchanges, which can also facilitate fund transfers across chains.

In light of these findings, it is evident that bridges form an integral part of the blockchain infrastructure, enabling seamless cross-chain transactions and fostering the growth of Web3 ecosystems. As Stargate continues to assert its dominance as the leading bridge, it will be crucial to monitor its performance and impact on the rapidly evolving blockchain landscape.