Ethereum Layer-2 TVL has fallen to its lowest level in two years. Here is what declining liquidity means for ETH, rollups, stablecoins and investors.

Ethereum’s PeerDAS upgrade on December 3, 2025 promises 8× more data capacity and sub-$1 Layer-2 fees, pushing Ethereum toward 100,000 TPS.

But Solana already processes 5,000+ TPS with penny-level fees.

This deep comparison breaks down TPS, fees, decentralization, outages, and why both chains could dominate DeFi and real-world apps by 2026.