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Chainlink CCIP draws $7B in token value after major bridge migrations

Chainlink said CCIP handled $4.9 billion in quarterly volume, up 353% year over year, while several crypto projects migrated assets totaling more than $7 billion onto the network.

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Chainlink reported that it drew more than $7 billion of token value onto its cross-chain infrastructure in the second quarter as institutional adoption accelerated, with crypto projects replacing older bridging systems and more traditional finance firms moving deeper into tokenized markets, CryptoSlate reports.

In its quarterly review, Chainlink said its Cross-Chain Interoperability Protocol, CCIP, processed $4.9 billion in quarterly volume, up 353% from a year earlier, and that the network’s total value secured reached $110 billion.

The migration wave included Mantle moving more than $2.5 billion of MNT, Lombard Finance shifting over $1 billion in Bitcoin assets, Solv moving more than $700 million in tokenized Bitcoin, and KelpDAO moving about $1.5 billion of rsETH after a $292 million exploit involving its previous bridging provider.

Chainlink’s growth also comes amid heightened security scrutiny, after crypto losses tied to cross-chain bridge and infrastructure incidents surpassed $650 million this year, with attacks including the Verus Ethereum Bridge and Polkadot-based Hyperbridge, CryptoSlate added.

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