Ethereum remains the default collateral layer, not because it is exciting, but because exits are deepest.

That distinction becomes more important once volatility rises.
Ethereum now holds roughly $163.36B in stablecoins.
Nearly half of all stablecoin liquidity onchain.
Most people still evaluate yield strategies backwards.
They optimize for APR first.
Then think about liquidity later.
In practice, the order should probably be:
1. collateral quality
2. exit depth
3. liquidation conditions
4. borrow demand
5. then APR
Because a 22% farm on shallow liquidity can become a much worse trade than a 10% strategy sitting on the deepest settlement layer in crypto.
Especially once markets become directional.
This is why a lot of larger capital still prefers Ethereum based yield even when smaller chains offer higher emissions.
The opportunity is not only earning yield.
It is earning yield while preserving exit quality during stress.
Ethereum still has:
▸ the deepest stablecoin base
▸ the strongest lending liquidity
▸ the most reliable collateral markets
▸ the highest quality DeFi counterparties
▸ the best liquidity recovery after volatility spikes
That does not mean Ethereum always offers the highest returns.
It means the risk-adjusted profile is often better than CT assumes.
Particularly for size.
The hidden cost in DeFi is usually not entry.
It is exiting during panic without destroying your own position.
That is where settlement depth starts mattering more than APR screenshots.