Just saw an on-chain transfer, so I traced the route while I was at it—basically it’s mainnet → L2 → decentralized exchange → then cross back, and finally into a brand-new wallet. At first glance it looks like a coincidence transfer, but once you break down the interaction records between the addresses, everything lines up: either it’s whale-style brick-and-mortar arbitrage, or the protocol itself is adjusting liquidity. In any case, right now, between Layer2s it’s all about TPS, fees, and ecosystem subsidies—these cross-chain arbitrage routes are becoming more and more common. For retail users it looks dizzying, but the logic is actually pretty simple.