➤ Qualitative Analysis: Why is there optimism for the cross-chain track?

First, the monetary environment is not loose, and the entire market is a game of existing funds. The competition among public chains has never stopped, and on-chain funds are like "fickle grass," jumping back and forth between various public chains. In such an environment, cross-chain protocols have a strong demand.

Second, cross-chain is a track that has not yet exploded.

Third, cross-chain tokens have already passed the "virgin coin" bubble stage. Most VCs tend to overdraw the future during the initial launch, leading to the "virgin coin" bubble stage for new coins. Currently, most cross-chain protocol tokens have moved past this stage, transitioning from "new coins" to "quasi-new coins."

➤ Quantitative Comparison: Will there be a "dark horse" in the cross-chain track?

Two months ago, a comparison was made of the cross-chain data of the five major cross-chain protocols. The conclusion at that time was that #DeBridge's FDV/cross-chain data was relatively low, indicating potential value for $DBR.

Now, two months later, the latest data shows that the FDV of Layerzero, Wormhole, Axelar, and Celer is all declining, meaning the prices of these tokens are falling.

Only $DBR's FDV and token price are rising, with an increase of about 25%.

The latest data indicates that DeBridge ($DBR) has the lowest ratio of FDV to all cross-chain data, and the ratio of FDV to cross-chain capital is significantly low. This suggests that $DBR may still be undervalued.

Comparing the new data with two months ago, other cross-chain amounts or transaction numbers have fluctuated slightly. However, DeBridge's transaction amount in January 2025 has increased 6.5 times compared to November 2024.

This growth may be due to DeBridge being one of the key infrastructures in the Solana ecosystem. When conducting cross-chain transactions with DeBridge, users can earn points, and during the JUP airdrop in December, DeBridge users had a chance to participate in the airdrop. On the other hand, Trump's token issuance on Solana once ignited the Solana ecosystem, which is also a key reason for the explosive growth of DeBridge's cross-chain scale.

In summary, the cross-chain track itself has certain potential. From the perspective of cross-chain data comparison, DeBridge ($DBR) may be the project with the most dark horse potential.

Conflict of interest statement: I hold DBR and W.

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