Do you want to buy $AAVE at $95?

Just an hour ago, it surged 1.7%, reaching 95.05, with trading volume skyrocketing by 8 million USDT—looks like it's about to take off, right? But what you don't know is that over the past three and a half days, 15.1 billion dollars of funds have franticly fled from Aave, with total deposits evaporating by one-third. Hackers stole 300 million dollars, using stolen rsETH to wildly collateralize on Aave, leaving behind 230 million in bad debt. The WETH pool utilization hit 100%, and ordinary users can't even withdraw.

First, look at the surface: the price is rising, but money is fleeing.

In the past hour, AAVE rose from 93.5 to 95.05, a 1.7% increase, with 8 million USDT pouring in. But the candlestick chart shows it just halved from a high of 110, after the hacker incident, plunging 26% at one point, with TVL dropping from 26 billion to just over 16 billion.

First thing: hackers left a mess of 230 million in bad debt.

From April 18 to 20, the KelpDAO cross-chain bridge was hacked for 300 million dollars. The attacker used stolen rsETH to collateralize on Aave, directly causing the protocol to incur bad debt from 124 million to 230 million. The WETH pool utilization hit 100%, meaning the money was lent out and cannot be recovered. Want to withdraw? Queue up. This isn't a small problem—it's a liquidity crisis.

Second thing: whales are secretly buying.

You read that right. Large spot orders are increasing, whales are accumulating. Historically, such whale activity often appears at AAVE's bottom.

Third thing: governance has won, and revenue now belongs to token holders.

On April 12, the "Aave Will Win" proposal was passed with a high vote. All Aave products—frontend, app, swap—100% of the revenue now goes directly into the DAO treasury, belonging to AAVE token holders. Previously, revenue was quietly diverted; now it's fully resolved.

On one side: hackers loot, liquidity dries up, community panics and rushes to withdraw.

On the other side: whales bottom out, governance revolution, V4 is about to launch.

The critical zone is $86 to $96—that's the last bottom line for bulls and bears.

If you're a short-term trader: try light positions around 90 to 92, aiming for 100 to 110. Cut losses decisively if it falls below 85, next support at 80.

If you're a long-term player: build positions gradually between 86 and 90, add more if it drops to 80, and buy back when it recovers to 100. Hackers are shaking out weak hands; governance is the bottom card. This

When everyone is panicking and rushing to withdraw, whales are already adding chips.

Whether you can survive in crypto depends not on how fast you run, but on whether you dare to look at the data a little longer when fear is at its peak. #比特币反弹 $AAVE