L2 Capital Rotation: Smart-Money Wallets Pivot From Mainnet to Base, Arbitrum, and Scroll
Aggregate stablecoin supply on Ethereum L2s crossed $4.1B last week, with 62% of new issuance settling on Base. We trace 2,400 labeled wallets across 14 protocols to map where treasury desks and market makers are repositioning ahead of the Q1 ETF review window.
- Capital flows
- L2 ecosystem
- Stablecoins