What are Wrapped Tokens? Understanding Wrapped Bitcoin, Wrapped Ethereum and More

Combined, Ethereum bridges hold $23.24 billion in assets, according to a dashboard on Dune Analytics. Polygon, Avalanche and Fantom dominate the market, holding sway over 23%, 22% and 18% of the market, respectively. About 25% of the assets in the bridges, or about $6 billion, are held in wETH, with a further 22%, or $5.2 billion, being held in the U.S. dollar stablecoin, USDC.