Where Balor fell, a huge crater formed which later filled with water. Today local tradition holds that Loch na Súil (the Lake of the Eye ) north of Moytirra, Co. Sligo, is the place where Lugh killed Balor, as the prophecies had foretold, and gave the Tuatha Dé Danann their greatest victory, breaking the stranglehold of the Fomor over all the races of Ireland forever.

According to the annals the Tuatha dé Danann held the sovereignty of Ireland for one hundred and ninety-seven years until they were finally displaced by the invasions of the Milesians, whose descendants, the Gaels, were to become the dominant people of Ireland.

It has often been suggested that the saga of the Second battle of Moy Tura and the story of the death of Balor of the Evil Eye at the hands of his grandson, Lugh the Il-Dána, tells of the replacement of one solar deity by another. The older, established order as represented by the single Evil Eye of Balor makes way for a more vigorous manifestation of the cult of the Sun-God as personified by the radiant Lugh.

One particular passage in the tale of The Sons of Tuireann gives additional substance to this suggestion and clearly marks Lugh as representing the Sun-God:
'It would be better for us if it was the sun' said the Druids.
'What else could it be?' said Breas the Beautiful.
' It is the radiant shining face of Lugh the Il-Dána,' said they. And then Lugh came up and saluted them.."