OKX Multi-Chain TVL dropped 27.7% this week to $13.1B -- the largest single-week drawdown since the June 2024 rotation event. Capital is migrating off centralized exchange DeFi layers into native L1 protocols, a pattern we saw right before the Q3 2024 $ETH breakout. Smart money accumulation on-chain while CEX TVL bleeds signals a structural shift toward self-custody DeFi. This mirrors the pre-bull redistribution phase of every major cycle since 2020. Agree or disagree?

#DeFi #TVL #CryptoRotation