Is AAVE at $89—did you scoop up the dip?

Just 4 days ago, hackers struck, bad debt hitting as high as $230 million, TVL plunging by $8 billion, WETH frozen, a wave of withdrawals, panic selling—every single bomb all went off within a single day. But over the past 4 hours alone, the price rebounded from the low of $89 to $95, and trading volume of 13.37 million USDT instantly surged. So is it a drained corpse, or the last tough bone in DeFi?

First, look at the surface: just got stabbed— the blood hasn’t even stopped.

From April 18 to 20, Kelp DAO was hit by hackers for $293 million. The attackers exploited a vulnerability to mint fake rsETH, deposited it into Aave to borrow real WETH, causing bad debt of $190 million to $230 million to appear in Aave. What were the consequences? WETH frozen, large-scale withdrawals, TVL crashing from $26.4 billion to $18.6 billion, with $8.4 billion flowing out in a single week. If you had AAVE in your hands, it was still $115 on April 17, but on April 19 it was directly smashed to $89—down 22% in two days.

First thing: the Ethereum Foundation is stepping in to save the day.

Just when everyone thought Aave was about to collapse, the Ethereum Foundation directly deposited $48 million worth of ETH into it. Aave itself also quickly rolled out a $1.0 billion redemption protocol to prevent a systemic collapse.

Second thing: the DAO passed the “Aave Will Win” proposal.

With a 75% support rate, 100% of the brand product revenue goes to the DAO treasury, and it also approved $25 million in stablecoins + 75,000 AAVE for V4 development. The V4 Frontier roadmap has already been launched; the GHO stablecoin will expand cross-chain, and capital efficiency and risk models are being comprehensively upgraded.

Third thing: the fundamentals basically didn’t fall apart at all.

TVL is still $16.4 billion, firmly staying #1 in the lending track. Annualized fees are $648 million—earning $53 million in just 30 days. AAVE’s market cap is only $142 million; MCap/TVL is just 0.086, at a historical low. Big institutions like Dragonfly have already stated: Aave’s capital is enough to cover.

On one side: the hackers stabbed, bad debt at $230 million, TVL down $8 billion.

On the other side: the Ethereum Foundation steps in to save the day, the DAO passes a heavyweight proposal, and the fundamentals remain #1.

The key zone is $89–$86—this is the final bottom line for both bulls and bears.

For short-term players: now around $93–$95, enter in batches; set the stop-loss at $85—if it breaks down, run. First target: $110. Second target: $130.

For long-term players: this is the big pit you’ve been waiting two years for. Buy in batches with your eyes closed below $89; if it drops below $80, add more. With the V4 launch + bad debt resolved = the main line for the next DeFi bull round.

Aave has lived through 2020 all the way to now—how many times has it faced the “going to zero” scare? And what was the result? Every crisis has been the starting point for its next explosive surge.

This time, are you the one panicking and cutting losses with the crowd, or the one going against the trend to pick up cheap chips? #比特币反弹 $AAVE