CryptoSlate
Chainlink's Cross-Chain Interoperability Protocol absorbed more than $7 billion in token value during the second quarter as crypto projects abandoned legacy bridging systems and traditional-finance firms deepened their onchain footprint, according to the network's Q2 review. CCIP itself handled $4.9 billion in quarterly volume, up 353% year over year, while total value secured across the network reached $110 billion.
The migration reads as a direct response to a bruising year for cross-chain infrastructure. Bridge and interoperability exploits have crossed $650 million in 2025 across incidents involving the Verus Ethereum Bridge and Polkadot-based Hyperbridge, and the pattern is forcing protocols to rethink how value moves between chains. Mantle migrated more than $2.5 billion of MNT to CCIP, Lombard Finance moved over $1 billion in Bitcoin assets, Solv shifted more than $700 million in tokenized Bitcoin, and KelpDAO relocated roughly $1.5 billion of rsETH after a $292 million exploit involving its prior bridging provider. Kraken migrated more than $330 million of wrapped Bitcoin and intends to use CCIP for future wrapped assets, while Re moved about $475 million of reUSD distribution and Virtuals adopted the system for more than $700 million of VIRTUAL deployed across chains.
The institutional lane is widening in parallel. Depository Trust & Clearing Corp. said in May that its Collateral AppChain will run on Chainlink's Runtime Environment and data standard for near-real-time collateral management across financial markets and blockchains, with a go-live targeted for the fourth quarter. Fidelity International launched its first tokenized fund using Chainlink for onchain NAV data, while State Street Investment Management and Galaxy used the network for SWEEP, a tokenized liquidity fund. Project Pangea, an initiative involving European and South Korean banking groups representing more than 50 banks and over $10 trillion in assets under management, is exploring T+0 foreign-exchange settlement using regulated stablecoins, ISO 20022 messaging and existing SWIFT infrastructure.
Frequently asked questions
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What is Chainlink's Cross-Chain Interoperability Protocol (CCIP)?
CCIP is Chainlink's cross-chain infrastructure for transferring tokens and data between blockchains. It launched on mainnet in July 2023 and handled $4.9 billion in Q2 volume, up 353% year over year.
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How much value migrated to Chainlink in Q2 2025?
More than $7 billion in token value moved onto Chainlink's cross-chain infrastructure in Q2, including $2.5B of MNT from Mantle, $1B+ in BTC from Lombard Finance, $1.5B of rsETH from KelpDAO, and $330M+ of wrapped BTC from Kraken.
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Why are protocols moving away from existing cross-chain bridges?
Cross-chain bridge and infrastructure losses surpassed $650 million in 2025 across incidents at the Verus Ethereum Bridge and Polkadot-based Hyperbridge, pressuring protocols to scrutinize the security architecture underpinning cross-chain transfers.
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Which traditional-finance institutions are using Chainlink?
DTCC said its Collateral AppChain will use Chainlink's Runtime Environment for near-real-time collateral management, with a Q4 go-live. Fidelity International launched a tokenized fund using Chainlink for onchain NAV data, and State Street and Galaxy used the network for SWEEP, a tokenized liquidity fund.
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Is Chainlink's growth flowing back to the LINK token?
The Chainlink Reserve added 1.44M+ LINK in Q2, taking holdings above 4.5M tokens. Exchange-held LINK fell 15.7M tokens over the past month, and LINK is up about 12% this month to $8.34, though it remains down roughly 31% year to date.
Benjamin Cowen
CoinDesk
TheBlock
WuBlockchain
Glassnode