# Interoperability/Bridges crypto coins — market cap, protocol fees and revenue > Interoperability/Bridges vs Bitcoin — Relative Strength & Breadth Bottom line: deBridge ranks first for research priority in Interoperability/Bridges crypto at 63.4/100, and its native activity evidence clears the coverage gate. The theme's 13-week excess versus Bitcoin is -14.3% on 0% breadth, which is what decides whether that lead is isolated or broad. 3 of the 11 assets here carry enough native evidence to move past a tape-led label. ## Agent research brief - What matters now: Interoperability/Bridges is -14.3% versus Bitcoin over 13 weeks. Only 0% of covered assets are above trend; leadership is narrow. - Best research lead: deBridge ranks first at 63.4/100 with 87% total evidence and 74% native evidence. - The contradiction: 3/11 assets clear the native-evidence gate; the rest should not be treated as fundamentally confirmed. - What to do with it: Keep this as a research queue, not an entry list. The market gate reopens only when Bitcoin trend and sector breadth improve. Data: price 2026-07-24; protocol 2026-07-24; chain users/transactions 2026-07-24; chain TVL 2026-07-24; market-cap snapshot 2026-07-04. ## 4-Factor Crypto Evidence Score A within-theme research-priority score for the 11 assets in Interoperability/Bridges, out of 100. The four displayed point contributions add exactly to the total, and the market regime changes the action label, never the arithmetic. deBridge is highest at 63.4/100 on 87% evidence. It ranks research attention, not portfolio action. 1. deBridge (DBR): 63.4/100 — Illiquid · research only; 24.4 + 16.2 + 16.5 + 6.3 = 63.4; evidence 87%; native evidence 74% Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree. 2. Hyperlane (HYPER): 53.8/100 — Illiquid · research only; 17.5 + 15.0 + 13.2 + 8.1 = 53.8; evidence 25%; native evidence 26% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 3. Caldera (ERA): 52.3/100 — Illiquid · research only; 21.7 + 15.0 + 10.0 + 5.6 = 52.3; evidence 50%; native evidence 0% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 4. LayerZero (ZRO): 50.1/100 — Illiquid · research only; 17.5 + 15.0 + 10.0 + 7.6 = 50.1; evidence 12%; native evidence 0% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 5. Axelar (AXL): 48.2/100 — Illiquid · research only; 17.5 + 15.0 + 10.0 + 5.7 = 48.2; evidence 12%; native evidence 0% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 6. Threshold Network (T): 44.4/100 — Tape-led · on-chain proof incomplete; 11.9 + 15.0 + 10.0 + 7.5 = 44.4; evidence 50%; native evidence 0% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 7. Wormhole (W): 42.6/100 — Tape-led · on-chain proof incomplete; 9.2 + 15.6 + 7.5 + 10.3 = 42.6; evidence 68%; native evidence 36% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 8. Across Protocol (ACX): 41.3/100 — Illiquid · research only; 17.5 + 9.0 + 9.1 + 5.7 = 41.3; evidence 43%; native evidence 62% Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree. 9. Ronin (RON): 39.6/100 — Lagging · market gate closed; 17.5 + 7.0 + 7.6 + 7.5 = 39.6; evidence 32%; native evidence 64% Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree. 10. ICON (ICX): 33.2/100 — Illiquid · research only; 3.9 + 13.0 + 10.0 + 6.3 = 33.2; evidence 55%; native evidence 10% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. 11. ZetaChain (ZETA): 30.5/100 — Illiquid · research only; 4.1 + 12.9 + 6.0 + 7.5 = 30.5; evidence 73%; native evidence 46% Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority. ## Which projects are generating the most network fees? What the numbers say: deBridge leads Interoperability/Bridges crypto on Trailing 12-month fees at $10.1M, 618% ahead of Hyperlane. 2 of 4 assets with comparable change data are growing. Coverage is 6 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if: fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold. - deBridge (DBR): $10.1M - Hyperlane (HYPER): $1.4M - Wormhole (W): $661.7K - Across Protocol (ACX): $644.8K - Ronin (RON): $257.0K ## Which projects convert activity into protocol revenue? What the numbers say: deBridge leads Interoperability/Bridges crypto on Trailing 12-month revenue at $10.1M, 618% ahead of Hyperlane. 1 of 1 asset with comparable change data is growing. Coverage is 4 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if: revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters. - deBridge (DBR): $10.1M - Hyperlane (HYPER): $1.4M - Across Protocol (ACX): $0 - Wormhole (W): $0 ## Where is capital actually committed on-chain? What the numbers say: Wormhole leads Interoperability/Bridges crypto on Quarter-end TVL at $2.1B, 2086% ahead of Hyperlane. 0 of 6 assets with comparable change data are growing. Coverage is 7 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if: TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity. - Wormhole (W): $2.1B - Hyperlane (HYPER): $94.7M - Across Protocol (ACX): $19.0M - Ronin (RON): $3.6M - deBridge (DBR): $2.3M ## Which chains are gaining real users? What the numbers say: Ronin leads Interoperability/Bridges crypto on Average daily active addresses at 22,512 addresses. 0 of 1 asset with comparable change data are growing. Coverage is 1 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if: address growth reverses for two complete quarters or activity rises without corresponding fees. - Ronin (RON): 22,512 ## Which chains are processing the most transactions? What the numbers say: Ronin leads Interoperability/Bridges crypto on Trailing 12-month transactions at 176,239,105 transactions. 0 of 1 asset with comparable change data are growing. Coverage is 1 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if: transaction growth turns negative while users and fees also deteriorate. - Ronin (RON): 176,239,105 ## Every asset - deBridge (DBR) — 90d +4.2%; RS-BTC +22%; score 63.4; activity protocol - Hyperlane (HYPER) — 90d —; RS-BTC —; score 53.8; activity protocol - Caldera (ERA) — 90d -8.6%; RS-BTC +8.8%; score 52.3; activity tape only - LayerZero (ZRO) — 90d —; RS-BTC —; score 50.1; activity tape only - Axelar (AXL) — 90d —; RS-BTC —; score 48.2; activity tape only - Threshold Network (T) — 90d -41%; RS-BTC -24%; score 44.4; activity tape only - Wormhole (W) — 90d -34%; RS-BTC -16%; score 42.6; activity protocol - Across Protocol (ACX) — 90d —; RS-BTC —; score 41.3; activity protocol - Ronin (RON) — 90d —; RS-BTC —; score 39.6; activity chain + protocol + chain TVL - ICON (ICX) — 90d -41%; RS-BTC -23%; score 33.2; activity chain TVL - ZetaChain (ZETA) — 90d -42%; RS-BTC -25%; score 30.5; activity protocol + chain TVL ## Limitations - Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders. - Market-cap values are a dated universe snapshot, not point-in-time historical supply data. - Current category labels are applied to historical prices; this creates survivorship and taxonomy hindsight. - Funding rates, open interest, liquidations, exchange flows, unlock schedules, historical circulating supply and developer activity are not held and are not inferred. - Equal weighting is used for sector history because true historical market-cap weights are unavailable. ## FAQs ### What is Interoperability/Bridges crypto? Interoperability/Bridges crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 11 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-07-24. ### What is the total market cap of Interoperability/Bridges crypto coins? The Interoperability/Bridges coins on this page are tracked against a universe of 894 of the top 1,000 crypto currency assets by market cap. Market-cap metadata is dated 2026-07-04, separately from the price series, and each coin's own figure is in the table on this page. ### Are Interoperability/Bridges crypto coins outperforming Bitcoin? Interoperability/Bridges has returned -64.7% versus Bitcoin over 52 weeks and -14.3% over 13 weeks on an equal-weight current-member index. 0/6 covered assets are above their 200-day averages as of 2026-07-24. ### Which Interoperability/Bridges asset has the strongest research score? deBridge ranks first at 63.4/100: 24.4 + 16.2 + 16.5 + 6.3 = 63.4. It is labelled “Illiquid · research only” with 87% overall evidence and 74% native-economics evidence. ### How is the Interoperability/Bridges 4-factor score calculated? The exact sum is Market leadership /35 + Network and economic traction /30 + Value capture /20 + Liquidity and downside risk /15. Missing data pulls only the affected factor toward neutral and lowers evidence; it is never silently reweighted. ### Why can a Interoperability/Bridges asset be labelled tape-led? Tape-led means price and relative-strength evidence exists but less than half of the native traction and value-capture evidence is available. Such assets remain visible but rank below fully evidenced assets. ### Does protocol revenue accrue to the token? Not necessarily. Protocol fees and revenue measure network economics; token-holder value depends on the protocol’s burn, buyback, staking, distribution and governance rules. This page never assumes accrual merely because revenue exists. ### Does crypto have a P/E or PEG ratio? No comparable company-style P/E or PEG is used. Where coverage permits, the page shows network fee yield and protocol-revenue yield against a dated market-cap snapshot, with an explicit token-accrual caveat. ### How much history is shown for Interoperability/Bridges? The page shows five years of weekly price and relative-strength history and 20 complete calendar quarters of on-chain activity where available. Missing periods remain gaps. ### Why do the crypto data dates differ? Prices and technical metrics run through 2026-07-24; protocol activity through 2026-07-24; chain users and transactions through 2026-07-24; chain TVL through 2026-07-24; market capitalisation is a separate snapshot dated 2026-07-04. ### Are stablecoins and wrapped tokens included in Interoperability/Bridges? No. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they do not have independent price discovery. ### Can one token appear in multiple raw crypto categories? Yes, but public MLA pages assign each asset to exactly one functional theme using a specific-to-general first-match taxonomy. Interoperability/Bridges therefore has one canonical membership list. ### What would invalidate the current Interoperability/Bridges theme read? The read weakens if the sector’s 13-week relative return versus Bitcoin falls below zero, fewer than one-third of covered assets remain above the 200-day average, and the leading asset’s native activity also contracts. ### Does this page include funding rates, open interest or token unlocks? No. Those datasets are not held in the current research store, so the page names them as unavailable rather than inferring them from price. ### Which projects are generating the most network fees? deBridge leads Interoperability/Bridges crypto on Trailing 12-month fees at $10.1M, 618% ahead of Hyperlane. 2 of 4 assets with comparable change data are growing. Coverage is 6 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold. ### Which projects convert activity into protocol revenue? deBridge leads Interoperability/Bridges crypto on Trailing 12-month revenue at $10.1M, 618% ahead of Hyperlane. 1 of 1 asset with comparable change data is growing. Coverage is 4 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters. ### Where is capital actually committed on-chain? Wormhole leads Interoperability/Bridges crypto on Quarter-end TVL at $2.1B, 2086% ahead of Hyperlane. 0 of 6 assets with comparable change data are growing. Coverage is 7 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity. ### Which chains are gaining real users? Ronin leads Interoperability/Bridges crypto on Average daily active addresses at 22,512 addresses. 0 of 1 asset with comparable change data are growing. Coverage is 1 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if address growth reverses for two complete quarters or activity rises without corresponding fees. ### Which chains are processing the most transactions? Ronin leads Interoperability/Bridges crypto on Trailing 12-month transactions at 176,239,105 transactions. 0 of 1 asset with comparable change data are growing. Coverage is 1 of the 11 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if transaction growth turns negative while users and fees also deteriorate. ### Which Interoperability/Bridges project has the largest fee base? deBridge leads covered trailing-12-month fees at $10.1M. Coverage is 6/11; this is network activity, not automatically token-holder income. ### Which are the biggest Interoperability/Bridges crypto coins by market cap? LayerZero is the largest Interoperability/Bridges crypto coin by market capitalisation at $229M, ahead of deBridge at $80.8M and Wormhole at $62.9M. The 11 Interoperability/Bridges coins on this page carry $670.5M between them, with a market-cap figure on file for 11 of them. Market-cap metadata is dated 2026-07-04.