The latest analytics data on Nansen reveals some interesting patterns worth monitoring. I'm now tracking a few key metrics across the stack: how stablecoin inflows into vaults stack up against actual swap volume, the rotation patterns emerging in vault age cohorts, LP consolidation activity on the platform, and specifically where vKAT tokens are concentrating. The real signal appears when inflows start outpacing transaction volume—that's typically when deeper liquidity shifts begin to materialize. This combination of indicators gives a much clearer picture of capital flow behavior and liquidity provider positioning in the ecosystem.