Net Flows by Chain

Arbitrum accounts for 57% of inflows over the past month, and is currently back to being the largest L2. Over the same time period, the TVL on chain has risen by 22%, and the stablecoin marketcap has risen by 31%. Leading the charge on Arbitrum is Aave V3, whose TVL has increased by 36% while GMX's has increased by 22%.

On the other side of the equation, Ethereum has seen $1.204 billion worth of "outflows." In this graph it looks a bit comical really, like the chain is experiencing mass exodus.