eth l2 season
is it going to ever happen?
stablecoins.
defi.
2025.
summer incoming for @ethereum although there is no yapping points
the ticker is $ETH
sKaito.
Does stablecoins mass adoption era mean ETH L2 summer? (or hyperliquid, consumer crypto, or even NFTs? 🥹)
so..
Total Defi Tvl surpassed $100b in April and now sitting at $119.957b h/t @DefiLlama.
@ethereum still dominates in both TVL ($58.6B) and stablecoin supply ($123B), but @solana is emerging strong across both metrics.
@arbitrum shows consistent growth.
@HyperliquidX L1 shows early promise with $3.5B in stables despite low TVL, signaling capital efficiency.
and most importantly, I believe the 2025 DeFi Summer winner will be decided on:
who can convert stable inflows into sticky onchain activity.
and the below is the status of "TVL-to-Stablecoin Supply Ratio" that could imply how efficiently each chain converts stablecoin inflows into onchain liquidity
apparently the higher ratios imply "stickier" usage of capital, not just inflows. the top performers based on the data include:
@base: 1.17
- Base apparently leads in efficiency, suggesting a strong retention of stablecoin liquidity for active DeFi use.
@Optimism: 1.10
- Closely behind Base, Optimism is showing solid integration of stablecoin capital into its Defi ecosystem.
@arbitrum: 0.87
- While Arbitrum handles significant stablecoin flows, a slightly lower ratio suggests room to improve on liquidity stickiness.
@ethereum: 0.76
- The most popular L1, Ethereum, remains foundational but shows signs of stablecoins sitting idle relative to its total TVL.
-
Some thoughts:
1. Pretty apparent the stablecoins to liquidity conversion efficiency is profound in the ETH L2's.
2. I also have found myself doing many things on the L2s like @animecoin on @arbitrum, etc.
3. We're starting to strongly agree that the stabecoins mass adoption is imminent.
4. So.. does stablecoins mass adoption mean the ETH L2 summer?
5. Or will @HyperliquidX, with HyperEVM, dominantly take over all the living stalbecoins + perp volumes and win over all?
6. Or even will the consumer crypto (please name your favorite candidate here) trump over all this? (nft supercycle when?)
>> nevertheless, time to build (together).
5
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