This metric measures the USD value which is deposited into bridge smart contracts on Ethereum, and is therefore flowing out of the Ethereum blockchain, and into target blockchains. Deposit Volume is computed daily by multiplying the number of tokens deposited into bridges by the latest daily price of each token.

Bridges are protocols that enable digital assets to be transferred from one blockchain to another. When an asset is transferred out of Ethereum, it gets deposited and locked into a bridge smart contract. When the asset is transferred back to Ethereum, it is withdrawn and released from the smart contract.

This metric only includes bridge contracts on the Ethereum side. The bridges included in this metric cover bridge deposits into both L1 and L2 blockchains, providing information on the value transferred to both L1 competitors, and L2 scaling solutions. Each bridge included in this metric represents a single blockchain, except the ones labeled as multichain. That label is used to represent bridges that allow transferring assets across multiple different chains.