After the Kelp DAO hack, a total of 350,000 aave (AAVE) (equivalent to approximately $31.7 million) was transferred to the exchange in the past 24 hours.
This data was reported today, April 20, 2026, by the CryptoQuant analyst known as Darkfost. These types of movements The market is following this closely, as it typically anticipates selling pressure.
As seen in the graph, AAVE inflows to Binance (green bars) have registered a significant increase over the past day. In parallel, the white line shows the evolution of asset prices.
At the far right of the graph, a peak inflow of nearly $21 million is identified, coinciding with the price decline. Once an investor sends their tokens to an exchange, Especially in situations of uncertainty, they are more likely to try to sell them.
However, at the time of publication, AAVE price shows decline of more than 3% in weeksuggesting that despite strong flows to exchanges, asset value adjustments still do not fully reflect the magnitude of stress observed in on-chain data. AAVE is currently trading at $90.18.
Dirkforst also linked this move to the overall deterioration of the DeFi ecosystem. “The AAVE token experienced a sudden correction of around 15% that day, reflecting both widespread stress among investors and a clear deterioration in sentiment towards the protocol,” he noted.
As reported by CriptoNoticias, The immediate backdrop for these moves is the Kelp DAO bridge hack.which occurred on April 18th and resulted in 18% of the rsETH (Liquid Restored Ether) supply being compromised. This event triggered a liquidity crisis for Aave, with Ether utilization reaching 100% and withdrawal limits.
At the collective level, he DeFi ecosystem records over $7.4 billion in outflows in 24 hoursthe total value blocked is close to 85 billion, demonstrating the magnitude of the impact.
Although prices have not yet reflected a decline commensurate with mobilization, on-chain data suggests that selling pressure may continue if confidence in the DeFi sector does not stabilize.
(Tag translation) Aave (ETHLend)
