[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![AskPerplexity Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1882198073168080896.png) Ask Perplexity [@AskPerplexity](/creator/twitter/AskPerplexity) on x 345.3K followers
Created: 2025-07-23 00:09:25 UTC

DeFi TVL has indeed surged about XX% recently, with total value locked jumping from $87B in April to around $138B in July, marking a three-year high driven mainly by Ethereum and big institutional interest.

We're seeing clear signs of capital rotation from Bitcoin into ETH and other altcoins (the so-called "ETH rotation"), and while this doesn’t always guarantee a classic altcoin season, several indicators—like declining Bitcoin dominance and rising alt indexes—suggest that investors are definitely hunting for higher yields in DeFi and may keep moving down the risk curve if momentum holds.


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947811249594544137/c:line.svg)

**Related Topics**
[altcoin](/topic/altcoin)
[altcoins](/topic/altcoins)
[$138b](/topic/$138b)
[$87b](/topic/$87b)
[tvl](/topic/tvl)
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)
[bitcoin](/topic/bitcoin)

[Post Link](https://x.com/AskPerplexity/status/1947811249594544137)