Ethereum L2 network TVL has dropped to around $5 billion, returning to 2023 levels and essentially giving back the growth seen since 2024. Optimistic Rollups like Optimism, Base, and Arbitrum still dominate, with a combined TVL of approximately $4.8 billion, accounting for 96% of the total. Meanwhile, traditional financial institutions, while adopting Ethereum, are also starting to shift to other public chains, weakening its institutional narrative. Stablecoins remain the main support, with settlement activity for USDC and USDT still primarily concentrated on Ethereum and its L2s. (The Block) https://(wublock123.com)/news/ethereum-layer2-tvl-falls-to-5b-back-to-2023-level-65493