Ethereum ecosystem captures 90% of crypto lending revenue, is the potential of L2 underestimated?

Question

【Crypto World】The latest data is quite interesting—the money earned in the crypto lending market, nine out of ten dollars, have gone into Ethereum and its L2 networks.

What does this number indicate? On one hand, Ethereum’s position as the DeFi leader remains very solid, with lending protocols, liquidity pools, and various complex financial products all rooted on this chain. On the other hand, L2 solutions like Arbitrum and Optimism are also not resting—they inherit Ethereum’s ecological advantages while offering cheaper transaction costs, gradually becoming new battlegrounds for lending activities.

It makes sense—when users choose where to borrow money, ultimately it comes down to ecological maturity, protocol security, and transaction costs. Ethereum’s ecosystem benefits from these three factors, and other public chains hoping to share the pie must first solidify these fundamentals.

ProposalDetective · Accepted Answer

90% of the income went into the Ethereum wallet. How are the other chains getting by these days? Haha

PumpBeforeRug · Answer

90% of the revenue is in the ETH ecosystem. Honestly, that's not surprising; security is there. Who dares to borrow millions on a small chain? It's better to stick to the mainstream ecosystem.

Arbitrum and OP are indeed cheap, but I still feel something's missing—a true killer app.

Don't even think about other public chains; if the ecosystem isn't there, it's just not there. Burning money won't save it.

Is the potential of L2 underestimated? I think it's already been hyped up quite a bit. Where is the real breakthrough?

Money always follows security, and that will never change.

digital_archaeologist · Answer

Ninety percent of the revenue is eaten up by ETH, which is outrageous... but it's understandable, given the ecosystem is right here.

To be honest, the potential of L2 has been seriously underestimated. The cheap gas fees alone can attract many people, but I'm just worried that a new "Ethereum killer" might emerge later to disrupt the market.

So other public chains still need to keep competing; just shouting slogans won't do any good...

This wave of ETH's moat is really deep. Arbitrum and Optimism must know how much advantage they've gained.

DeFi is truly a winner-takes-all game; those who entered early are the real winners.

orphaned_block · Answer

Ninety percent of the income goes into the Ethereum wallet, other public chains really need to reflect, the ecological gap is not just a little

Are you still betting on other L1s now? I went all in on Arb a long time ago, gas fees are ridiculously cheap

What does this data indicate? It shows how deep the Ethereum ecosystem's moat is; new projects basically have no chance to stand out

L2 is really underestimated, but it's not just underestimated, right? Most people just haven't realized it yet

So, it's not just about choosing a good coin; you have to look at the ecosystem's overall pattern

Look at the growth rate of Optimism and Arbitrum, I bet their market share will be rewritten by the end of this year

Ninety percent of lending flows into Ethereum, this is the market's aesthetic, very realistic

MoonRocketTeam · Answer

Ethereum is maintaining its rhythm this time, with nine-tenths of the revenue; other chains are no match. The L2 side is also thriving.

The ETH ecosystem is like a launchpad, while other public chains are still lying on the ground.

User votes never lie; cheap, secure, and a mature ecosystem—these three pillars are truly unbeatable.

However, to be honest, this data also reflects a somewhat high market concentration. Solana and Polygon need to step up their game.

The future of L2 is promising, but for now, Ethereum remains the main stage. Other players can take their time.

SchrodingerWallet · Answer

Ninety percent of the income is eaten up by ETH. To be honest, the ecosystem's moat is too deep. Other chains want to turn things around first need to ensure security and cost-effectiveness, otherwise it's pointless.

LiquidationKing · Answer

90% of the revenue is taken by Ethereum, other public chains should reflect on this, really

Arb and Opt have split some of the pie with cheap gas fees, but their ecosystem maturity is far behind

Ethereum's moat is a bit deep, but if this data doesn't change, it's dangerous

L2's potential is indeed underestimated, but it depends on who can truly mobilize users

Honestly, the choice is still in the users' hands; whoever is cheaper and safer, go to them. There's nothing mysterious about it

Ninety percent, does that indicate any problem? Don't just look at the surface data

Other chains should step up; what are you waiting for by just watching?

With such high ecosystem barriers, do new entrants still have a chance?

Arbitrum's ecosystem has indeed shown some signs of improvement, but it's still a bit early

BearMarketSurvivor · Answer

Ninety percent of the income went into the Ethereum wallet. What does that mean? It means other chains are still struggling on the battlefield where the supply lines have been cut off.

ser_we_are_ngmi · Answer

Ninety percent of the income is in the Ethereum wallet; other public chains are having a tough time these days.

L2s are riding on ETH's coattails and just lying back to win.

Wait, is this data real-time? Or are other chains quietly gaining strength without anyone noticing?

Once an ecosystem moat is formed, it's very hard to break. If you can't keep up, you're really out of the game.