According to the source, Celo, Ronin, Synthetix, and Aave are reported to be shifting activity back toward Ethereum after testing alternative Layer-1s, implying potential liquidity consolidation on the ETH stack if confirmed, source: the source. Celo’s community previously proposed moving to an Ethereum Layer-2 using the OP Stack, signaling a strategic pivot toward Ethereum scalability, source: Celo Forum. Synthetix concentrated incentives and the v3 roadmap on Optimism (an Ethereum L2), progressively reducing emphasis on alt-L1 deployments, source: Synthetix SIPs and governance. Aave’s core markets continue to prioritize Ethereum and leading L2s (Optimism, Arbitrum, Base), anchoring major liquidity within the Ethereum ecosystem, source: Aave Governance. Ronin operates as an EVM chain bridged to Ethereum, enabling asset mobility and settlement routes via Ethereum bridges, which makes a return path operationally feasible, source: Ronin documentation. Historically, consolidation around Ethereum has coincided with rising L2 TVL and relative ETH strength versus select alt-L1 baskets, informing rotation trades, source: L2BEAT and DefiLlama. Traders should monitor ETH/BTC, L2 TVL on L2BEAT, chain TVL share on DefiLlama, Ethereum gas fees on Etherscan, bridge net flows on Dune or Nansen, and alt-L1 funding rates/open interest on major derivatives venues to gauge migration pressure and adjust positioning, source: L2BEAT, DefiLlama, Etherscan, Dune, Nansen, and exchange derivatives dashboards. Key risks include incentive relaunches on alt-L1s and governance outcomes that could delay or alter migration timelines, which have shifted rotation timing in prior cycles, source: project governance forums.