As Ethereum's market capitalization approaches 500 billion USD, on-chain data confirms that the DeFi zone is starting a rotation trend. Maelstrom fund founder Arthur Hayes publicly announced on July 17, "The ETH season has arrived," asserting that leading DeFi protocols will fully explode. Artemis zone tracking data shows that over the past 7 days, the ETH ecosystem has led with a 14.2% rise, while the DeFi zone followed closely with a 10.6% increase, narrowing the gap between the two to 3.6 percentage points. Market funds have started to act: Hyperliquid(HYPE), DeepBook(DEEP), and Aerodrome(AERO), the three major DeFi tokens have surged by 180%, 137%, and 132% respectively within 90 days, and the technical outlook suggests a push towards historical highs after a brief pullback.