The DeFi Report founder, Michael Nadeau, noted that while Solana has attracted inflows from other blockchains, a significant portion of the value that migrated to Solana has returned to Ethereum. He highlighted that over $1 billion flowed back to Ethereum, representing 42% of the total capital that moved to Solana. Year-to-date, Solana saw $2.36 billion in inflows from Ethereum, yet this only constituted 2.7% of Solana's total value locked (TVL). Despite facing $6 billion in net outflows this year, Nadeau emphasized that a majority (83%) of these outflows are directed to layer-2 chains, suggesting these assets remain within the Ethereum ecosystem and will continue to bolster its value. As of now, Ethereum's TVL surpasses $50 billion. Meanwhile, Solana recently emerged as a leading fee-generating blockchain, surpassing Ethereum's fees, fueled by increased activity on its decentralized exchange, Raydium.

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