Summer TVL split clean:

Whales stacked billions into $LDO $AAVE $MORPHO - the proven yield + lending plays

Meanwhile the real degens 10-27x'd on:
• $GATE
• 3Jane
• DeFindex

All from near-zero bases. Classic rotation - institutions farm safety, CT apes the ghost chains.

If you missed the small cap DeFi run, you weren't watching liquidity migration. Money flows where attention goes, and these protocols got discovered.