In this article, we'll delve into the recent events in the cryptocurrency world and analyze how they have affected the prices of USDC and its impact on bridges such as Satellite and Squid on the Axelar chain. The past week proved to be eventful as we witnessed a run on SVB Bank, which resulted in its bailout by the Federal Deposit Insurance Corporation (FDIC).

When a similar liquidity issue occurred surrounding FTX, bridges such as Satellite experienced a surge in volume. This indicates that in times of uncertainty, investors and traders flock to stablecoins like USDC, which bridge the gap between traditional finance and decentralized finance (DeFi).

To better understand the impact of the SVB Bank announcement and how it compares to the FTX crash, a detailed comparison was made.

Finally, I compared the two bridges, Satellite and Squid, with the Hop Protocol to understand how they fared during market volatility.

The Axelar Network empowers various ecosystem applications, including Satellite - one of the earliest. Satellite is a decentralized application that facilitates the transfer of assets across different chains, allowing users to move their assets from a source chain to a destination chain address.

The Axelar network, through its GCP protocol and IBC, enables Satellite to be the pioneering app that links all Cosmos chains with various ecosystems. Axelar functions as a mediator between different networks, facilitating the unimpeded flow of Cosmos assets. Moreover, Axelar can route, finalize, and execute transactions in various "languages."

Flipside has provided us with EZ tables that feature Squid and Satellite bridges from Axelar tables, which meticulously document all transfers. However, the only issue pertains to the volume of the bridge.

To address this, I have extracted token prices from the Ethereum hourly price table and linked them with their corresponding symbols, allowing me to determine the bridge volume in USD.

With Squid, tokens can be swapped between blockchains effortlessly, granting users access to a range of apps across different chains with just one click. By utilizing Squid, developers can create streamlined user experiences that capitalize on cross-chain liquidity, providing universal access to anyone with a crypto wallet, regardless of their chain of choice.

Through Squid's API and SDK, developers can support token swaps across any token while also linking multiple swaps and on-chain function calls across a comprehensive list of integrated chains. This enables users and developers to instantly explore new ecosystems without encountering difficulties.