Wormhole bridge is locked in total value and recovers $1B
Cross-chain protocol wormhole Total Value Locked (TVL) has recovered to $1 billion, two years after the start of the cryptocurrency bear market in May 2022.
At the time of publication, the protocol's TVL shows a balance of $1.02 billion, while Ether (ETH), Fantom (FTM) and Solana's SOL (SOL) assets hold the highest positions at $675 million, $174 million and $96 million, respectively. Its TVL is up more than 300% after falling to a low of $234 million earlier in the year. The protocol reached a peak TVL of $3.8 billion 16 months ago, just before the collapse of the Terra ecosystem and the onset of crypto winter.
In the year In the year On November 29, 2023, the event was rescheduled for a $225-million capital investment at a cost of $2.5 billion. In February 2022, a wormhole hacked over $321 million worth of Ethereum–Solana with an infinite filtering problem. bridge.
Shortly after the incident, venture capital firm Leap Crypto pledged to replenish the more than $320 million lost during the hack. In the year
Currently, Wormhole is one of the most popular uploading and messaging services with about 51,807 transactions and 2,394,665 messages sent by users in the last 24 hours. Most of the linking work currently involves transferring Ether to Sui, Solana and Arbitrum. Since its inception in September 2021, the protocol has committed $38 billion.
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