Ethereum, the second largest cryptocurrency by total market capitalization, has certainly achieved massive growth in recent strides, and the recognition that this growth has brought has brought significant popularity for ETH. Rather than reaching a record price of $4,300 for Ethereum, it is important to implement the long-awaited EIP-1559 update, and with this, the network has now reached an inflationary model.
Ethereum Taken a Title
Ethereum Another important update of the network was the initiation of the transition to Ethereum 2.0, that is, the Proof-of-Stake model. While this step still needs a lot of new updates to complete, Ethereum developers are now taking firm steps forward. Thus, although ETH is a leader in many issues, especially in the world of DeFi, some elements of this leadership began to be shaken.
According to the information conveyed by Ethereum researcher Pete Kim, while Ethereum is the leader in the number of bridges between networks, it is seen that this gradually decreases and eventually lost to another network.
According to data from Dune Analytics analyst, stablecoin USDC is now the cryptocurrency that uses Ethereum’s bridges the most and communicates with other networks the most.
— Pete Kim (@petejkim) September 10, 2021
In addition, it is seen that Polygon (MATIC) has recently achieved a record rise among networks that enable communication with other blockchain networks and transfer assets. The number of bridges between Polygon-Ethereum is currently at a record high, followed by Avalanche and Phantom.