What it is
Capital shifting from one category of protocol to another, lending to perps, say, or DEXes to liquid staking.
Why it matters
Rotations are the weather of crypto. Reading which category is taking on water and which is drying out is often more useful than watching any single token.
How we read it
We aggregate the day's and week's liquidity moves by category and show where the net flow is heading.
What it cannot tell you
Categories are fuzzy and some protocols span several. Read the direction, not the decimal.