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Arbitrum’s Bridge Activity and Its Impact on DeFi Sentiment

Sep 15, 2021 · 4 min read

By Ashwath Balakrishnan, and Jeremy Ong

Market Update

The market is bouncing for a second consecutive day, and every session (Asia, Europe, North America) opened up with strength. CRV is on an absolute tear today, but other top DeFi tokens are in the green as well.

Arbitrum’s Lively Bridge

Ethereum has the most well-capitalized DeFi ecosystem, with over $100B of capital locked in smart contracts and more on the sideline. As a result, it makes sense to evaluate how much of this capital is moving to other networks. Less than a week after launching, the value locked in Arbitrum’s bridge is closing in on that of Polygon. There was a flurry of liquidity mining announcements across Avalanche, Fantom, and Harmony over the last few weeks. Despite this, Arbitrum has been able to outshine its EVM-compatible competitors. If anything, this is evidence of just how much the market had been anticipating Arbitrum’s launch. A sharp increase over the weekend brings the total value locked on the Arbi

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