Abstract This research explores how DeFi capital moves across major L1 and L2 ecosystems. By combining custom dashboards on capital depth, efficiency, and bridge inflows, we reveal which chains are attracting real liquidity and which are lagging behind. Backed by on-chain data from 2024 to 2025, this analysis separates signal from noise in the race for sustainable DeFi growth.IntroductionIn today’s fragmented crypto economy, liquidity doesn’t just live on Ethereum anymore. Capital is flowing ...