🚨 A YEAR OF VIOLENT ROTATION TO STAY IN THE SAME PLACE...



Think back on the last 365 days in DeFi. The new metas, points programs, and "up only" narratives. It felt like constant change.

But look at the data:

Liquid Staking (DeFi's bedrock): Flat. Down just 7% on $60B TVL. The foundation is rock solid.

The Losers: Speculative capital fled last cycle's darlings. DEXs and Liquid Restaking bled 25-38% TVL.

The Winner: The real growth moved on-chain. RWA TVL exploded 210%.

Don't confuse narrative rotation with genuine ecosystem maturation.

While the speculative capital just sloshed around, the infrastructure for real-world adoption quietly exploded.

The smart money isn't chasing the flavor of the month, they are focusing on the structural shift happening in plain sight.
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