Arbitrum is establishing itself as a key liquidity hub for DeFi. Take Fluid—over the past year, it's nearly doubled lending volume on the network, jumping from $67M to $140M. Even more telling, its share of total activity surged from 7.4% to 10.5%, signaling where capital is actually flowing. Right now, Fluid controls roughly $25M of Arbitrum's $40M in total DEX liquidity. That concentration tells you something about market dynamics—developers and liquidity providers are consolidating around proven infrastructure.