Let's look at the daily volume of stETH going through the bridge. The upgrade to Columbus-5 happened on September 30.

Let's look more closely at the month of September.

Around the launch of Columbus-5, there was no increase in stETH being transfered from Ethereum to Terra.

It is striking how similar this bar chart is to the prior one. This makes me uncertain about the validity of my dataset.

Upon close examination we can see that while the trends between the two graphs are similar, the total amounts transferred are different.

Again let's zoom in on transfers starting from September 01.

There was no significant increase in transfers of bETH out of Terra into Ethereum prior to the launch of Columbus-5.

bETH bridged to Ethereum from Terra

Bonus Material: Google Trends

There were a few searches in Google for 'columbus-5' in mid-June. Searches started picking up again in mid-August, culminating with a peak at the end of September. This peak coincides with the launch of Columbus-5.

What Can We Learn?

1. The launch of Columbus-5 did not affect the volume of stETH bridged to Terra, or vice versa (bETH bridged to Ethereum).
2. There was no increase in transfers prior to Columbus-5.
3. Most searches in Google for the term 'Columbus-5' happened from mid-August to the end of September. There was also a fair amount of searches in mid-June. Presumably this was when Columbus-5 was first announced.