Solana bridge platforms have seen their total inbound trading volume surge since 2021 to over $10.1 billion, a massive 114% increase from $4.7 billion recorded through February 2024. Data provided by Flipside Crypto highlights the growing use of Solana bridges in the crypto ecosystem.
According to CoinTelegraph, the most traded asset across Solana’s bridges was USD Coin (USDC), which recorded an inbound volume of $3.9 billion and an outbound volume of $4.7 billion.
It was followed by Ether (ETH) with around $2 billion in both inbound and outbound trading volume. Solana’s native token, SOL, came in third with $1.5 billion inbound and $1 billion outbound.
Wormhole has maintained its position as the most popular bridge platform in the Solana ecosystem, with a total trading volume of $7.3 billion. However, there has been a slight decline in its usage over time, allowing its competitor deBridge to gain ground. In February, deBridge’s weekly volumes exceeded those of Wormhole by 12%.
Analysis of bridge trading volume trends from DefiLlama indicates an increase in activity between November 2024 and January 2025, with Solana bridges recording over $6 billion in trading volume. In detail, monthly volumes in November were $1.1 billion, rose to $2.5 billion in December, and peaked at $3.2 billion in January.
While Solana’s bridge trading volumes have shown impressive growth, they remain relatively modest compared to those of the Ethereum network. Over the same period, Ethereum bridges generated $38 billion in trading volume, significantly outperforming Solana’s numbers. Ethereum bridge trading volumes have remained strong throughout 2024, with the lowest monthly volume recorded in April at $5.1 billion.
This article has been translated with the help of an artificial intelligence program and has been reviewed by an editor. For more details, please refer to our terms and conditions.
