Institutional-Grade Analysis, In-depth Insights, Animoca Brands Research

Animoca Brands Research

Institutional-Grade Analysis, In-depth Insights

Animoca Brands Corporation Ltd. is a Hong Kong-based game software company and venture capital company

Crypto

<ul><li>The cross-chain interoperability sector, where LayerZero operates, has been experiencing rapid growth. By September 2024, the total cross-chain transaction/message volume reached 3.5 million, with an average daily volume of 118,000.</li><li>The sector has evolved from the early dominance of IBC to the rise of LayerZero, with both protocols now leading in volume. A growing list of competing protocols is also competing for market share.</li><li>This growth is driven by the increasing demand for asset bridges, the penetration of interoperability protocols into bridge services, and the emergence of cross-chain use cases beyond asset transfers. We project that the sector will continue to grow at an annual rate of over 100%.</li></ul>

The cross-chain interoperability sector, where LayerZero operates, has been experiencing rapid growth. By September 2024, the total cross-chain transaction/message volume reached 3.5 million, with an average daily volume of 118,000.The sector has evolved from the early dominance of IBC to the rise of LayerZero, with both protocols now leading in volume. A growing list of competing protocols is also competing for market share.This growth is driven by the increasing demand for asset bridges, the penetration of interoperability protocols into bridge services, and the emergence of cross-chain use cases beyond asset transfers. We project that the sector will continue to grow at an annual rate of over 100%.

LayerZero Coverage Part 2: Growth of Cross-Chain Interoperability Sector

United States

ZetaChain is a novel L1 that has chain-agnostic interoperability built-in (EVM-compatible, Cosmos/IBC, Bitcoin, Dogecoin, Tron, etc.). Developers currently use ZetaChain’s messaging capabilities to send data and native value (without wrapping assets) between any chains.

ZetaChain will also support native smart contracts, which let developers build omnichain dApps that orchestrate funds across chains from a single contract.

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ZetaChain (ZETA CURNCY)

LayerZero Coverage Part 2: Growth of Cross-Chain Interoperability Sector

The cross-chain interoperability sector, where LayerZero operates, has been experiencing rapid growth. By September 2024, the total cross-chain...

Animoca Brands Research

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