According to Terraform Labs CEO Do Kwon, Terra Bridge, the cross-chain bridge protocol, now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche. "The simplest way to shift funds in cryptocurrency," Terraform Labs CEO said in a tweet. Terraform Labs co-founder Do Kwon announced to his 352,800 Twitter followers on April 12, 2022, that Terra Bridge, also known as terra. money now supports five more blockchain networks. Over the previous year, cross-chain bridge technology has advanced significantly, and by mid-September 2021, there was more than $7 billion in total value locked (TVL) across various bridges to Ethereum. Today, cross-chain bridges to Ethereum are worth $19.51 billion spanning a dozen blockchain networks. "Bridge. Terra. money now backs Avalanche, Solana, Osmosis, Fantom, and Moonbeam Network." "The simplest way to transfer payments in cryptocurrency," Do Kwon stated on Tuesday. In addition, the Terraform Labs co-founder posted an image of the protocol in operation. In addition to the recently introduced Solana, Fantom, Moonbeam, Osmosis, and Avalanche networks, bridge. terra. the money supports Ethereum, Binance Smart Chain (BSC), Harmony, Secret, Injective, Cosmos, and Polygon. According to source statistics, the Terra (LUNA) network has been a notable fixture in decentralised finance (defi) in recent years, since the network is the second-largest blockchain in terms of defi TVL. Terra's current worth is $26.14 billion, or 12.52 per cent of the $208 billion locked in defi on April 12. With $14.38 billion secured, Anchor is the largest defi protocol on Terra, while Lido is the second-largest defi protocol with $7 billion locked. Terra (LUNA) is also the fifth-largest smart contract platform currency in terms of market capitalization, having a market cap of $29.8 billion as of today. Anchor just introduced support for the Avalanche (AVAX) blockchain, and the Luna Foundation Guard (LFG) recently announced its intention to buy $100 million in AVAX in addition to the non-bitcoin profit's (BTC) reserves.
