Summary
- Aave's total value locked fell from $48.5 billion to $30.7 billion, with about $15.1 billion leaving the protocol.
- Following the KelpDAO hack, broader risk aversion in the DeFi lending market also led to about $1.5 billion in outflows from Morpho.
- By contrast, SparkLend's TVL rose from $1.9 billion to $3.2 billion, drawing about $1.3 billion in inflows, which AmberCN said may reflect fund movements by whales and institutions including Justin Sun.
Forecast Trend Report by Period
A broad reallocation of capital is underway across decentralized finance after lending protocol Aave recorded heavy withdrawals.
AmberCN reported on April 22 that about $15.1 billion was withdrawn from Aave over the past three and a half days. Total value locked fell to $30.7 billion from $48.5 billion before the incident, meaning roughly one-third of deposits left the protocol.
The outflows came after the recent KelpDAO hack, as investors reduced risk exposure across the broader DeFi lending market.
Another lending protocol, Morpho, also saw deposits decline. Its total value locked fell to $10.2 billion from $11.7 billion before the rsETH-related issue, resulting in about $1.5 billion in outflows.
Spark, by contrast, attracted fresh capital. SparkLend's TVL increased to $3.2 billion from $1.9 billion, marking about $1.3 billion in inflows.
Some of the large sums withdrawn from Aave appear to have moved to Spark. AmberCN said the transfers were estimated to include funds from major whales and institutional investors such as Justin Sun.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
