The price of Bitcoin Cash has experienced significant rise over the course of the last 30 days, resulting in favorable returns for investors. Since July, BCH holders have continuously maintained a positive perspective, which has reduced the frequency of selling activity. This collective sentiment has played a significant role in the upward trajectory of BCH, consequently yielding favorable outcomes for these holders.

The price of BCH has increased by about 13% over the previous week, giving it some of the biggest gains in the last seven days for cryptocurrency assets. According to CoinMarketCap data, the altcoin was trading at $234.78 at the time of publication.

The value of the world’s cryptocurrency market dropped to $1.06 trillion at the time of writing, a 0.1% decrease in a day. On Thursday, ETH increased by about 0.8% to $1,629, while Bitcoin (BTC) rose slightly above the $27K level.

Can Bitcoin Cash Reach New ATH This Year?

BCH is anticipated to undergo a trial of the support line at a value of $229, after which a subsequent rebound is projected. The breach of the current barrier at $253 is crucial for the potential rise of the altcoin. If this level is surpassed, it might pave the way for the altcoin to achieve new 2023 highs, beyond the $300 mark.

Bitcoin Cash has increased by a remarkable 90% in the last six months, demonstrating strong performance. Furthermore, the price of BCH has been up significantly by 136% so far this year, maintaining a favorable return.

Santiment research indicates that whales in the cryptocurrency space have increased their holdings in Bitcoin Cash significantly. Collectively, bitcoin whales with holdings ranging from 100,000 to 10 million BCH held 3.74 million BCH as of September 18, 2023.

Long-Term Holder Addresses Up

But on September 26, their holdings had increased to 3.86 million BCH, showing a noteworthy acquisition of 120,000 BCH in just one week. Their balances are now comparable to what they were in July 2023 thanks to this accumulation, and the 120,000 BCH that the Bitcoin Cash whales purchased are worth about $25.6 million at the current market price of $213 per BCH.

Meanwhile, the increase in long-term holders of Bitcoin Cash indicates a positive outlook for the cryptocurrency’s sustainability. These committed investors, who believe in BCH’s long-term potential, contribute to a stable user base and network demand. This support from long-term holders, combined with whale accumulation, could help BCH reach or exceed $300 in the future

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

Some 5,000 ETH, worth over $8.2 million, have been moved from a wallet address associated with the FTX hacker. This development marks the first time assets have been transferred out of the hacker’s wallet following the exploit about a year ago.

FTX Hacker Moves 5,000 ETH, Spot On Chain Reveals

Marked as one the biggest crypto heists ever, the now-defunct FTX exchange suffered a loss of over $600 million through an hack in November 2022, a few hours after filing for bankruptcy. 

According to the on-chain analytics platform Spot On Chain, the FTX exploiter has now transferred 5,000 ETH in two transactions, moving 2,500 ETH to two separate wallets with a space of two hours between both transactions. 

FTX Exploiter 0x3e957 just moved 2500 $ETH ($4.2M) to new addresses

This is the first time the address has been active since the hack 10 months ago. The address still holds 12.5K $ETH

Follow the next actions via our platform at

https://t.co/7LnmryLvhL pic.twitter.com/yl2NnMwaqW

— Spot On Chain (@spotonchain) September 30, 2023

Spot on Chain further revealed that following the first transaction, the hacker moved 700 ETH through the Thorchain Router and 1,200 ETH through the DeFi wallet Railgun, both crypto projects that are lauded for their privacy-focused features.

Aside from the origin of these transferred assets, the movements of the FTX exploiter have drawn much attention due to a key development in the crypto space, with many enthusiasts and analysts now speculating on a possible market sell-off. 

Could FTX Hacker Be Planning A Sell-Off As Ether Futures ETF Launch Nears?

This week, reports swelled that the US Securities and Exchange Commission (SEC) was looking to clear some Ether futures ETH for launch next week ahead of a possible government shutdown.

These reports picked up more steam in less than a day when the VanEck Investment firm announced plans to soon launch an Ether futures ETH, named the VanEck Ethereum Strategy ETF. 

However, Valkyrie Investments, who had been tipped to be the forerunner for the SEC’s approval, finally won the race, securing the commission’s green light to launch the first-ever Ether futures ETF in the US. 

Following the official launch of an Ether futures ETF, there is likely a massive positive effect on ETH price movement. Just in the last two days of similar positive news around this investment fund, the second-largest cryptocurrency already rose by 4%, based on data from CoinMarketCap. 

Now, the recent token transfers by the FTX hacker are usually associated with an impending sell action. Thus, there is a possibility that this bad actor could be planning to take profit from the potential ETH price surge, which could be generated from the launch of ETH futures ETF. 

Such selling action is a common practice by crypto whales and is known to induce a bearish trend, which could be dangerous for small traders. 

At the time of writing, ETH trades at $1,677, with a 5.77% gain in the last day. Meanwhile, the token’s daily trading volume is down by 44.35% and valued at $3.8 billion. 

Following its victory against the US Securities and Exchange Commission, the XRP price has been displaying bullish sentiments, effectively gaining the attention of long-term investors seeking to buy and hold to gain more profits. In light of this, a crypto CEO has disclosed his insights on XRP’s bullish outlook, acknowledging the prospects of a bull run in the future.

Crypto CEO Concedes Possible XRP Bull Run

The market sentiment surrounding Ripple Labs’ native token, XRP has taken a bullish trajectory, increasing investors’ confidence and expectations of a possible bull run. 

Related Reading: CRV Price Surges 16% – What’s The Next Move For Curve DAO Token?

Matthew Dixon, Chief Executive Officer of Evai, a renowned crypto valuation platform, has recognized and highlighted this shift in market sentiment and aired his remarks on the token’s bullish position in an X (formerly Twitter) post on Friday. 

A price surge for the XRP price may be inevitable according to Dixon who used market insights from well-known crypto market analysts who were bullish on the crypto as a basis for his belief.

“Listening to other market commentators I hear a lot of Bullishness in the air for XRP. They may well be right,” Dixon stated.

Dixon Exercises Caution Amidst XRP Price Bullish Sentiment 

Amid the backdrop of crypto market volatilities and regulatory uncertainties that have plagued the XRP ecosystem, the cryptocurrency’s bullish trend comes as great news for the XRP community and its investors. 

There have been many price predictions for the XRP token. Some market analysts have predicted that the XRP price may see an increase as high as $250. Another analyst also forecasted a price surge of 2500% for the XRP token, pushing the cryptocurrency as high as $20 in the future.

XRP’s bullish trend started taking effect after its win over the SEC when US District Judge Analisa Torres ruled in favor of XRP, stating that programmatic XRP sales do not qualify as securities. 

Market observers are presently watching the XRP price and the developments in its ecosystem closely. The cryptocurrency has had its fair share of gains and losses this year. Therefore, it remains to be seen if XRP can sustain its bullish sentiment. 

Dixon has stated that he would remain cautious of XRP’s bullish momentum while waiting for more compelling evidence of a bull run in the future. The crypto CEO explained that he would remain a short-term investor to avoid significant losses. Nevertheless, he stated that he was also open to being a long-term investor of XRP if the prospects of a bullish run remain strong and the overheard resistance is overcome. 

“I will remain cautious until that overhead resistance is convincingly breached. If it is I’m happy to go long but until then shorts are favored with close stop losses,” Dixon stated. 

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from: Invezz

Asset management firm Valkyrie, one of the frontrunners for the first Ethereum ETF (exchange-traded fund) in the United States, has decided to pause its purchase of Ether futures contracts until the US Securities and Exchange Commission approves an Ether futures ETF. This comes barely a day after the asset manager reportedly secured approval to offer investors exposure to Ether futures under its existing strategy ETF (BTF).

SEC Might Be Behind This Action, Bloomberg Expert Speculates

On Friday, September 29, Valkyrie filed a 497 with the SEC, saying that it would halt the purchase of Ether futures contracts and unwind its existing positions. 

A part of the filing read:

Effectively immediately, The Fund will not purchase ether futures contracts until the effectiveness of an amendment to the Fund’s registration statement contemplating the addition of ether futures contracts to the principal investment strategy of the Fund. Until such time, the Fund will unwind any existing positions in ether futures contracts.

As reported on Thursday, September 28, the SEC appears to be fast-tracking the approval of Ethereum futures ETF in anticipation of a potential US government shutdown next week. 

Following this report, Valkyrie disclosed that it had begun purchasing Ether futures contracts for its combined strategy ETF ahead of a possible launch next week.

However, this latest action poses questions about the odds of Valkyrie becoming one of the first firms to introduce an Ethereum ETF in the United States. 

Bloomberg analyst Eric Balchunas has put forward a possible reason for Valkyrie’s decision to halt and unwind its Ether futures purchases. “SEC must have threatened them to cut it out,” Balchunas speculated via a post on X (formerly Twitter).

The plot thickens, Valkyrie just put out 497 that they are in fact not going to buy Ether futures until they are live (prob Tue) and are going to sell the Eth futures they bought (in an effort to jump line a bit). SEC must have threatened them to cut it out. Damn. https://t.co/yDkggCw3d1 pic.twitter.com/cKaV7k7AJs

— Eric Balchunas (@EricBalchunas) September 29, 2023

Valkyrie filed its unique Ethereum ETF application with the SEC in August. The asset manager seeks to convert its existing Bitcoin Strategy ETF (BTF) to a combined Bitcoin and Ether futures ETF.

Nine Ethereum ETFs To Launch Next Week?

According to Eric Balchunas’ analysis, about nine Ethereum ETFs will potentially start trading on Monday, October 2. Notably, asset manager ProShares owns three of these funds, with two being combined Bitcoin and Ethereum ETFs.

VanEck is another frontrunner for the first Ether futures ETFs in the US. The investment manager recently announced its intention to donate 10% of profits from its Ethereum ETF (EFUT) to The Protocol Guild, a compensation plan for Ethereum core contributors.

VanEck wrote on X (formerly Twitter): 

If TradFi stands to gain from the efforts of Ethereum’s core contributors, it makes sense that we also give back to their work. We urge other asset managers/ETF issuers to consider also giving back in the same way.

Big announcement!

We intend to donate 10% of our $EFUT ETF profits (https://t.co/gr652AkUvv) to @ProtocolGuild for at least 10 years.

Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.

Details

— VanEck (@vaneck_us) September 29, 2023

It is worth mentioning that the ETH price has seen some reprieve since news of the potential Ethereum ETF launch started making rounds. As of this writing, Ether is valued at $1,676, reflecting a substantial 5% price jump in the past week.

Behind the scenes, Cardano (ADA) has been actively building and introducing exciting innovations to its blockchain and ecosystem. This is evident in the latest weekly development report shared by Essential Cardano.  

Cardano: Highlights From The Report

One of the notable highlights from the report includes the updates being made to Cardano’s Lace wallet. This week, the team is said to have worked on a feature that allows users to choose the delegate ratio between “different stake pools, integrated portfolio persistence.” The team has also fixed issues relating to the User Experience (UI). 

The wallet launched earlier this year to a welcoming reception, with many excited about its functionalities and the multiple use cases it provided to users. Upon launch, the development team promised to continue introducing new updates to the wallet.

The report also indicates that users could get an update on the DApp connector, allowing them to enable it with selected extensions “such as those listed on CIP-95.” An update to the wallet’s UI reflecting the different types of governance actions is also imminent. 

Meanwhile, the Plutus tools team identified key issues relating to the Cardano blockchain using the new Marconi API. Marconi was developed to help index and query the blockchain. The team also used this solution to test the new “Cardano-node-emulator”, which is expected to be integrated into the blockchain’s smart contract code. 

While at this, the Plutus tools team made certain optimizations to Marconi, which improved synchronization times and the system’s overall performance. 

The Marlowe team was also busy this week, making specific adjustments to the Marlowe oracle. Marlowe is the code which allows Cardano users to create decentralized applications (dApps) that are specifically designed for financial contracts. 

Updates To Basho And Preparation For Voltaire

The Hydra and Mithril teams focused on updating Cardano’s current development stage, Basho. The Basho era is the fourth stage of Cardano’s development, primarily focusing on scaling and interoperability. 

On one hand, the Hydra team worked on improving the network’s usability and identified ways to enhance the network’s resilience. On the other hand, the Mithril team released a new update which allows support for certain actions on the network. They also made corrections in the Mithril nodes.

Cardano is also gearing up for when it moves to the last and final development stage known as Voltaire. This stage will be focused on governance. The Voltaire GovTool was shared with ADA holders as part of its preparations.

It will enable them to register as delegate representatives (DReps), allow them to delegate their voting power to other DReps and decide on several governance actions. 

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from: FXStreet

Popular crypto YouTuber Jake Gagain recently voiced his opinions on when the bull market would start and how several meme coins are poised to dominate the market when that happens.

Specifically, he seemed most bullish on Shiba Inu (SHIB), asserting that SHIB would topple the biggest meme coin by market cap, Dogecoin (DOGE).

The #BullRun Has Officially Begun.

— JAKE (@JakeGagain) September 27, 2023

DOGE Has Elon, SHIB Has?

In response to Gagain’s tweet, another X user laughed at the possibility of this happening and stated that DOGE had Elon Musk likely suggesting that there was no way SHIB could topple the largest meme coin since it had the support of the world’s richest man.

Musk has been known to be a huge admirer of DOGE and has partially contributed to the token’s growth, especially when it soared by 23,000% to hit an all-time high of $0.7 in 2021. It was also recently revealed that besides his vocal support, Musk is invested in the meme coin as he has been “quietly funding” the token’s development. 

With this in mind, many believe that there is no way that SHIB could topple DOGE, which happens to be ranked as the eighth largest cryptocurrency by market cap, with SHIB coming far behind at 19th. 

However, while it is undoubtedly a huge task, there are signs that SHIB could be massive (and possibly go head-to-head with DOGE) when the bull market returns. The fundamentals behind SHIB are stronger than ever, especially with the rejuvenation of Shibarium following its botched launch and the increased utility the layer-2 network is currently enjoying. 

Furthermore, SHIB’s burn rate has increased significantly, which could spark a surge in the token’s price as more and more SHIB tokens are cut out of circulation. It is also worth mentioning that SHIB once surpassed DOGE in market cap at some point in 2021, according to data from CoinGeko.

Crypto: Pepe In The Mix

Meanwhile, Pepe is another meme coin in which Gagain stated that he was bullish and gave four reasons for his stance. The first reason he gave was that major players, including crypto exchanges like Binance, OKX, Crypto.com, and Bybit, form part of the largest holders of the token and noted that these firms are holding their Pepe bags rather than selling.  

His second reason was that Pepe survived the saga, which involved three of the project’s developers dumping $15.6 million worth of Pepe on the market. Despite this, the token has risen in market cap since that event, which could likely mean that the token has bottomed out, in Gargain’s opinion.

The third reason is that Pepe is currently listed on over 100 exchanges, including the biggest centralised and decentralised exchanges. This is something which Gargain believes could give the token more visibility and liquidity by extension.

Lastly, he noted that Pepe is currently ranked in the top 100 tokens by market cap and, specifically, the third-largest meme coin by market. As such, it is well positioned to surge massively, especially because meme coins will dominate the next bull run. 

Featured image from The Mega Maxi

The Tron (TRX) DeFi ecosystem has experienced a notable surge in activity, signaling a substantial period of growth and development. This expansion isn’t limited to the realm of decentralized finance alone; recent data underscores a correlated upward trajectory within Tron’s TRX token staking ecosystem.

This trend suggests that both DeFi and staking on the Tron blockchain are witnessing increased interest and participation from users and investors, thereby fostering a more robust and dynamic Tron ecosystem.

But, there’s more interesting side of the narrative that has provided Tron a major lift. In recent days, Tron has observed a notable uptick in its Total Value Locked (TVL) metric, signifying an increase in the value of assets participating in various activities within the Tron ecosystem.

Tron TVL Swells To Over $15 Billion

At press time, the TVL associated with TRX has surged to an impressive $15.8 billion, reflecting a substantial growth rate of more than 2% within the span of just 24 hours.

Hey #TRONICS! Have you checked out @trondao‘s #DeFi?

TVL on the #TRONNetwork is $15.3b!

Let’s dive in and #BUIDL together!

Source https://t.co/YW3opVO3ZO pic.twitter.com/sr2uL66zB6

— TRON DAO (@trondao) September 28, 2023

This noteworthy upswing in TVL underscores a heightened level of engagement and confidence among users and investors in Tron’s blockchain and associated DeFi protocols.

Total Value Locked is a crucial metric in DeFi, representing the total value of assets locked within a specific DeFi platform or protocol, typically measured in US dollars. It encompasses assets used as collateral, liquidity in trading pools, staked tokens for rewards, and governance participation.

TVL is essential for assessing a DeFi project’s health, security, and attractiveness to users and investors, and it plays a vital role in risk evaluation and competition analysis within the DeFi ecosystem.

TRX Sustains 6% Climb In The Last Week

At the time of writing, TRX is trading at $0.088, down a measly 0.1%, but notched a decent 6.0% gain in the last seven days. TRX maintained its remarkable rise on Friday due to an increase in demand for the coin.

The token reached its highest point at $0.090 since July 22nd. It is one of the top performing major cryptocurrencies of the year, close to its all-time high of $0.094.

Tron stands out as the most active cryptocurrency in the industry, boasting stablecoins valued at over $44.5 billion and a user base exceeding 1.47 million, surpassing Ethereum and BNB Chain.

The success of Tron is attributed to the strong performance of USDD, a stablecoin launched in 2022, which has maintained its peg through an over-collateralization strategy. The strong crypto market, with Bitcoin reaching $27,000 and XRP rising to $0.052, also helped TRX price surge.

Meanwhile, TRON’s blockchain has seen significant growth recently. The total number of addresses, based on TronScan data, on TRON reached almost 187 million, and the total transactions surpassed $6.4 billion.

Additionally, TRON’s staking ecosystem has been thriving, with the staked amount of TRX reaching 46.8 billion, with 23.12% in Stake 2.0 and 76.88% in Stake 1.0. Stake 2.0’s increasing share indicates its rising popularity in the blockchain space.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

The Bitcoin price is trading at $27,100 at the time of writing, marking a 60% decline from its all-time high of $69,000 in 2021. As the anticipation for the next bull market builds, questions arise regarding Bitcoin’s potential future prices.

While most predictions are speculative, one analyst has devised a model leveraging historical data to forecast potential tops and bottoms in Bitcoin’s price over time.

Bitcoin Price In Previous Cycles

Since its inception, Bitcoin has demonstrated remarkable growth, rewarding early long-term investors substantially. This price growth is observable in measuring Bitcoin’s prices from the lows to the highs and between the highs of successive bull markets.

In 2011, the peak was $33, followed by a peak of $1240 in 2013, reflecting a 3800% increase between peaks. The subsequent peaks in 2017 and 2021 were $20,000 and $69,000, representing increases of 1,600% and 350%, respectively. Comparable levels of increase are also observed when examining the lows of different cycles.

Notably, the relative growth between cycles has diminished, possibly due to the increase in Bitcoin’s market capitalization, requiring more substantial capital to influence its price. This diminishing growth aligns with a mathematical pattern known as logarithmic regression.

Logarithmic Regression

An analyst has devised various logarithmic curves on the Bitcoin chart to forecast Bitcoin’s potential tops and bottoms, utilizing time as the only input. Such models can help investors by offering a straightforward way to see potential market trends and make proactive plans in the unpredictable world of cryptocurrency.

Bitcoin’s tops and bottoms typically manifest every four years, enabling the prediction of potential Bitcoin prices in upcoming cycles based on the logarithmic regression model.

Bitcoin Price Projections

2025-2026: Bitcoin price may peak in the third or fourth quarter of 2025 between $190,000-$200,000, before bottoming out around $70,000 the following year.
2029-2030: Bitcoin price may reach a top of $420,000 to $440,000 and bottom out the following year at around $230,000.
2033-2034: Bitcoin price may peak between $750,000-$800,000 and bottom out around $700,000 the following year.

By the late 2030s, the model begins to break down as predicted tops start falling below the predicted bottoms, potentially indicating a stabilization in Bitcoin’s price post its peak of $750,000-$800,000

Final thoughts

While models like this offer insightful projections of Bitcoin’s potential future prices, it’s important to acknowledge their limitations and the need for periodic updates with fresh data points. Numerous external factors, including but not limited to regulatory changes, technological advancements, and macroeconomic conditions, could significantly impact the model’s accuracy.

Moreover, the unprecedented nature of Bitcoin’s trajectory, having never endured a recessionary environment, implies a potential susceptibility to more substantial crashes than models might predict. Predictions should be cautiously considered with broader market analyses and trends as with any financial model.

Predycto is the author of a cryptocurrency newsletter. Sign up for free. Follow @Predycto on Twitter.

The LINK price is no stranger to bullish rallies, and in September alone, the token has gone from a low of $5.8 to a peak of $7.9. Even now, bullish momentum among enthusiasts has not waned, especially with a 130% price increase prediction from a crypto analyst.

LINK Price Prediction Ahead Of October

In the analysis posted to TradingView, pseudonymous analyst Babenski explains the reasoning behind the $18 surge presented in their chart. First, it points to the $5.8 low that was recorded back in mid-September which is identified as the accumulation range.

This is not out of the ordinary given the massive buying that took place when the LINK price fell to $5.8. This accumulation was the reason behind the support that was generated shortly after, which served as the lift-off point for the rally toward $8.

Despite already seeing a nice 35% jump from its September lows, the analyst sees further upside. Putting the peak of the rally at $18 means that the LINK price could rise another 130% if it plays out as expected.

The first roadblock is a retracement that was placed just above the $8 level, and LINK is already seeing a similar retracement after almost touching $8. Going by the analyst’s chart, the price could decline a bit further before picking up once more and then shooting straight to $18.

There is no timeframe added for when the LINK price would reach this price. But with September drawing to a close, October-November is more likely.

LINK Whales Take Initiative

The accumulation trend pointed out above has been mainly mounted by the LINK whales. Crypto analyst @ali_charts shared a chart on X (formerly Twitter) that showed that whales holding between 10,000 and 1,000 coins have been the main buyers.

According to Ali, these whales bought up more than 7.5 million tokens in a matter of weeks which translated to about $53 million spent buying LINK. As the LINK price has risen, these holders are seeing profit on their purchase, which could explain the downward correction in the LINK price in the last day.

#Chainlink whales have purchased over 7.5 million $LINK in the last two weeks, worth around $53 million! pic.twitter.com/jlu8stIB0r

— Ali (@ali_charts) September 28, 2023

Nevertheless, the digital asset remains bullish, especially with the whales still holding more than 206 million coins. This suggests that they are not tempted to sell into the present rally and could be holding on for higher prices.

LINK has been an impressive performer so far this week. It is up 15% on the 7-day chart, making it the best performer of the top 20 cryptocurrencies by market cap.

Cosmos, a blockchain where developers can create custom chains that interconnect and communicate, has revealed its roadmap for 2024. According to an X post on September 25, the roadmap centers on increasing modularity, improving the developer experience, addressing “technical debt,” and driving user adoption. With this, Cosmos developers plan to take on the more established platform, Ethereum.

At the heart of Cosmos are features such as Tendermint, a consensus system that anchors blockchains such as the BNB Chain; Cosmos SDK, a software developer kit that allows coders to build fluid and custom blockchains; and the Inter-Blockchain Communication (IBC), from where all deployed custom Cosmos chains can connect and communicate, effectively driving interoperability.

Cosmos Wants To Repay The Technical Debt And Make Its SDK More Modular

In 2024, reading from the roadmap, Cosmos aims to solidify its position by attracting developers from competing platforms as they repay the “technical debt.” In app development, technical debt leads to extra work and can be caused by resource constraints and shifting code requirements. 

Cosmos will expand its developer base to repay this debt and make the Cosmos SDK more modular. Although the team claims the SDK has been modular in theory, swapping and modifications have made practical implementation more challenging.

Therefore, to tackle these challenges, the work already done on Cosmos SDK will continue into 2024. Then, the goal will be to make the kit more modular at the core. This will make it more adaptable and flexible, meeting developer requirements.

Ethereum Is Still Dominant

It is yet to be seen whether this will be achievable in 2024 and whether Cosmos will grow as dominant as Ethereum. Currently, Ethereum is the leading smart contract platform, based on its market cap and the total value locked (TVL) in decentralized finance (DeFi). Additionally, its ecosystem of layer-2s has been increasing, with more protocols and blockchains connecting to Ethereum to take advantage of the network’s pioneering activity.

DeFiLlama data on September 29 shows that all the top 10 bridges are connected to Ethereum. To illustrate, Stargate–by Cosmos, is connected to Ethereum and multiple blockchains, including Avalanche and the BNB Chain. 

Besides Stargate, other bridges are Ethereum Virtual Machine (EVM) compatible and predominantly connect to Ethereum layer-2s and Polygon, the sidechain. For example, the zkSync Era, Base, Arbitrum, Polygon, and the Optimism Gateway, are plugged into Ethereum. Cumulatively, these bridges move millions of dollars worth of tokens to and from Ethereum at any instance.