It rotated.
Liquidity quietly moved out of memecoins and into structure, NFTs with utility, RWA yield, and battle-tested DeFi.
No celebrity drops.
No hype mints.
Just assets that do something.
NFTs are becoming collateral.
RWAs are becoming yield rails.
DeFi is becoming infrastructure again.
This isn’t a new mania.
It’s capital getting selective.
When sectors stop competing and start connecting, you’re not watching a rally, you’re watching a market grow up.

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