Question:

Q1. How many unique users have bridged to L2s using Hop? What days in the past 6 months have seen the most volume bridged, and were there any specific events that may have driven these spikes? Which assets have been bridged the most? Show an analysis of the asset distribution of bridging through Hop.

Preliminaries:

Hop is a popular cross-chain bridge connecting Ethereum with other EVM-compatible blockchains. The bridge lets Ethereum users transfer funds between Polygon and Gnosis sidechains, as well as some Layer 2 networks including Arbitrum and Optimism.

The application of HOP bridge to sending assets to L2s has been studied in this essay.

The useful metrics of this essay are:

• Number of unique wallets
• Clarify the spikes in bridged volume
• Most used assets to bridge
• Asset distribution bridging by HOP

Approach:

• Bridge by HOP

    from ethereum_core.fact_event_logs where event_name = 'TransferSentToL2'
  

• Contracts of assets on HOP

    contract_address = lower('0xb8901acb165ed027e32754e0ffe830802919727f') then 'ETHEREUM'
    contract_address = lower('0x22b1cbb8d98a01a3b71d034bb899775a76eb1cc2') then 'MATIC'
    contract_address = lower('0x3666f603Cc164936C1b87e207F36BEBa4AC5f18a') then 'USDC'
    contract_address = lower('0x3d4Cc8A61c7528Fd86C55cfe061a78dCBA48EDd1') then 'DAI'
    contract_address = lower('0x3e4a3a4796d16c0cd582c382691998f7c06420b6') then 'USDT'
  

• Volume of bridged

    from ethereum.core.ez_token_transfers by joining ethereum_core.fact_event_logs with tx_hash
  

• Time period

    block_timestamp>=CURRENT_DATE-180 -- analyze for the past 6 months
  

Results:

As can be seen from the first graph, the most popular assets by count of users is ETH.

The daily number of unique users bridged via HOP shown the enhancing of application of HOP from the last days of April to market crush in May.

On June 1st, 1787 unique users bridged via HOP and it the largest group of users in one day.

The USD value of bridged assets via HOP reveals the inconsistent movement of amount. It can be seen that the highest volume (in USD) bridged on May 12th and market downturn with 3.5 million USD.

The asset distribution in this graph reveals the highest application of ETH in bridging via HOP.

According to this graph, over 70% of bridges made on ETH. The USDC with 16% of bridges take the second rank of most used assets.