Ethereum (ETH) is ending 2025 with $4.2 billion in net inflows, the highest among all blockchains.
The network recorded $64.5 billion in total inflows against $60.3 billion in outflows, according to Artemis analytics.
Hyperliquid ranks second with approximately $2.9 billion in positive net flows.
Arbitrum experienced the largest outflows among Layer 2 networks as liquidity consolidated back to Ethereum's mainnet.
What Happened
Ethereum added $195 million in net inflows during the final week of 2025 alone.
The data measures capital movement across DeFi bridges, including both canonical and application-specific bridges connecting different blockchain ecosystems.
Hyperliquid, a blockchain focused on perpetual futures trading and DeFi infrastructure, secured the second position ahead of Sonic, WorldChain, and Solana.
Layer 2 networks currently hold only 13.5% of the Ethereum ecosystem economy as of December 29.
The mainnet carries the bulk of liquidity despite Layer 2s processing over 93% of transaction volume.
Stablecoin balances on Layer 2 chains dropped approximately $1 billion in December alone.
Layer 2 chains hold just 8.8% of total stablecoin supply, which peaked at $18 billion earlier in the year.
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Why It Matters
Ethereum's dominance stems from its extensive bridge infrastructure connecting numerous chains and facilitating seamless asset transfers.
The network serves as the primary settlement layer for major stablecoins including USDT and USDC.
Lower gas fees and improved usability contributed to Ethereum's ability to recapture liquidity from higher-risk Layer 2 protocols.
Following an October liquidation event, capital flows shifted decisively back to Ethereum's mainnet as market participants favored liquidity concentration.
The network's role as a hub for high-value DeFi liquidity and whale accumulation remained intact despite competition from Layer 2 solutions.
Ethereum also reached a peak in smart contract creation and usage during 2025.
ETH traded at $2,930 as of December 29, down 12.1% year-to-date after declining 29% in the fourth quarter.
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