A set of cross-chain protocol data comparison: Wormhole/deBridge/Axelar

The transaction volume and market value of these three protocols are counted

1. In terms of transaction volume and market value, Wormhole is undoubtedly at a higher comprehensive level

(1) The market value level of deBridge @deBridgeFinance is generally lower than the transaction volume

(2) In contrast, the overall market value level of Axelar @axelar is generally higher than the transaction volume

On the whole, 🔻

deBridge may be at a level that is undervalued by the market. A few months ago, I also gave a detailed introduction to it. You can jump to the tweet to read: 跳转

It should be noted that short-term transaction volume levels cannot refer to the long-term profitability of the protocol, but can only be used as a comparison within a period of time.

Because the official operation time of these protocols after TGE is very different, the short-term comparison is used as a reference.

I will also follow up on this data table for a long time, and will add more indicators for reference later.

2. Since Wormhole and deBridge belong to the Solana ecosystem, I have retrieved the transaction volume share of the two protocols in the past 30 days.

(1) It can be seen that Ethereum accounts for half of Wormhole's transaction volume, and there are some data not added in the chart: probably because the SUI network has been popular in the past period of time. The transaction volume of SUI is about one-quarter, followed by Solana.

(2) The overall transaction volume of deBridge is relatively balanced, with Ethereum accounting for 40% and Solana taking the second place, accounting for nearly one-third.

As the cross-chain infrastructure of the Solana ecosystem, Wormhole still meets higher demands in terms of transaction volume. If deBridge is compared with Wormhole's transaction volume and market value, it can be seen from the bar chart below that the ratio is obviously much lower.

The Solana ecosystem in this cycle has shown sufficient vitality, so I will follow up on the phased progress of some ecosystems and infrastructure later.

Stay tuned~