What it is
Nominal category TVL changing across lending, perps, DEXes, liquid staking, and other sectors.
Why it matters
Category changes show where reported depth is concentrating, while leaving the deposit-versus-repricing question open.
How we read it
We aggregate the day's and week's nominal USD TVL changes by category and show where reported depth is strengthening or weakening.
What it cannot tell you
Categories are fuzzy and some protocols span several. Read the direction, not the decimal.