For the first time since 2023, Ethereum's market share in the stablecoin vault TVL, a good proxy for real onchain activity, is significantly decreasing compared to other chains.
Ethereum is down to 76% from the recent peak of ~90%.
Winners taking the share are @base, @arbitrum, @avax, @RobinhoodCrypto, @monadtradingstrategy.ai/vaults/hi…