Ethereum Faces $6 Billion Net Outflow in 2023 as L2 Networks Thrive with Arbitrum, Optimism, and Base Inflows

According to recent insights from crypto analyst Michael Nadeau, as reported by COINOTAG on October 31, the **Ethereum mainnet** has experienced a substantial **net outflow** of **$6 billion** in 2023. Notably, around **83%** of this capital has shifted towards **Layer 2 (L2) networks**, indicating a significant migration trend among investors. Within this realm, **Arbitrum** has captured a considerable **net inflow** of **$2.4 billion**, while **Optimism** and **Base** have attracted **$2.2 billion** and **$1.6 billion** respectively. Furthermore, **Solana** has also benefited from this shift, amassing **$2.36 billion** in inflows originating from **Ethereum L1**. Intriguingly, more than **$1 billion**, or **42%**, of these funds have subsequently flowed back into the **Ethereum ecosystem**, showcasing the interconnectedness of these blockchain networks.