Close to $30 billion worth of assets have moved from Ethereum Layer 1 (L1) to various Layer 2 (L2) solutions, indicating a significant shift towards scaling Ethereum. Among the leading L2 platforms, Arbitrum leads with $10.6 billion in assets, followed by OP Mainnet with $5.2 billion, and others like Blast and Starknet with $2.5 billion and $1.4 billion respectively. Additional platforms such as Base, Metis, zkSync Era, Mantle, dYdX, Linea, Manta Pacific, Immutable, and Polygon zkEVM have also contributed with assets ranging from $949M to $158M. This migration is part of Ethereum's scaling efforts, with L2s reducing fees significantly, by approximately 80 times in some cases, and offering better user experiences. These developments are seen as a game-changer for Ethereum, with expectations that two or three general-purpose L2s will become massive hubs, securing hundreds of billions of dollars in value. BlackRock has expressed satisfaction with paying high fees on Ethereum L1 for reliability, while other users are benefiting from the cost-effective L2 solutions. The rise in Ethereum L2 activity is described as going 'parabolic,' with increased adoption expected to scale the Ethereum user base by two orders of magnitude. However, challenges such as higher fees and stalled transactions on networks like Base have been reported due to increased traffic.