ETH market capitalization hits 500 billion igniting DeFi season! Arthur Hayes bets on three potential protocols, HYPE, DEEP, AERO with a big pump of over 130% this month.

As Ethereum's ETH market capitalization approaches $500 billion, on-chain data confirms that the DeFi zone is starting a rotation market. Arthur Hayes, founder of the Maelstrom fund, publicly announced on July 17 that "the ETH season has arrived" and asserted that leading DeFi protocols will fully explode. According to tracking data from the Artemis zone, the ETH ecosystem led the way with a 14.2% rise in the past 7 days, 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 begun to take action: Hyperliquid(HYPE), DeepBook(DEEP), and Aerodrome(AERO), the three major DeFi tokens, have surged by 180%, 137%, and 132% respectively within 90 days, with technical indicators showing that after a brief pullback, they will challenge historical highs.

Arthur Hayes ignites market expectations: "ETH rise = DeFi full explosion" As Ethereum's ETH market capitalization races towards the $500 billion milestone, the Decentralized Finance ( DeFi ) zone is becoming the biggest beneficiary. Maelstrom founder Arthur Hayes announced in a recent tweet:

"The ETH season has officially started! The top protocols in every DeFi zone will explode. Although some charts are performing better, as long as ETH continues to lead the rise, all DeFi Tokens will take off."

On-chain data supports this judgment: Artemis zone monitoring shows that the ETH ecosystem has risen by 14.2% in the past 7 days (third place), while the DeFi zone ranks fifth with a rise of 10.6%. The gap in the rise between the two zones has narrowed to 3.6%, indicating that funds are spreading from the underlying public chain to the application layer.

Capital Underflow: DeFi total market capitalization surpasses 312 billion, three dark horses emerge Although the 24-hour rise in the DeFi zone recorded by CoinMarketCap is only 1.06%, the total market capitalization has quietly risen to $312.57 billion (a monthly increase of 2.32%).

Through the altcoin season index scan, three strong tokens stand out:

• Hyperliquid (HYPE): 90-day pump of 180%, Fibonacci pullback indicates a short-term pullback to $42.6 support level, preparing to break through the historical high.
• DeepBook (DEEP): A typical fractal structure is present behind the 137% rise, currently facing resistance at $0.205; if it breaks through, it will target $0.255.
• Aerodrome (AERO): Maintained a bullish channel after a 132% rise, may pull back to the middle support in the short term, starting a new round of breakout market.

Key Insights: The three rose against the trend during the market downturn, indicating strong potential for subsequent explosive growth.

Technical Layout Guide: Seizing Golden Buying Points During Pullbacks ▋ HYPE: Fibonacci Key Level Game The current price needs to hold the support at $42.628 (0.382 pullback). If the daily closes above this level, it will trigger a long signal to challenge the previous high. If it breaks below, watch for $40.2 (0.5 pullback) as the bull defense line.

▋ DEEP: Fractal Structure Repetition Verification Historical data shows that this Token must first fake break through key resistance before each new high. If this pullback at $0.205 can stabilize at $0.188 (previous high turned support), the probability of breaking through is over 70%.

▋ AERO: Mid-Band Sniping in Bollinger Bands The black midline and the 30-day moving average form a strong support zone at $2.18, where a large number of limit buy orders are concentrated. Coupled with the RSI pulling back from the overbought zone, this position may be the best entry point for long positions.

Conclusion: Arthur Hayes' assertion of the "ETH season" is being validated by both on-chain data and capital flows. As ETH's market capitalization breaks through the psychological threshold of $500 billion, the rally in the DeFi zone has quietly started with leading protocols such as HYPE, DEEP, and AERO. Although technical indicators suggest a short-term pullback is needed, historical patterns indicate that the true main uptrend often occurs after strong tokens bounce back from critical support levels. Investors should focus on the support zones of the three major tokens and seize structural opportunities in the DeFi rotation.