Aave Deposits Fall Below $30 Billion as $16.2 Billion Leaves After KelpDAO Incident
Suehyeon Lee
Forecast Trend Report by Period
Deposits on decentralized finance lending protocol Aave have fallen sharply, dropping below $30 billion.
Wu Blockchain reported on April 23 that Aave’s total value locked fell to about $29.6 billion from roughly $45.8 billion after a vulnerability incident involving KelpDAO’s rsETH.
That amounted to cumulative outflows of about $16.2 billion over the period, meaning more than one-third of the protocol’s total deposits was withdrawn.
The fund exodus appears to have been driven by investors pulling liquidity and reducing risk after the rsETH-related security issue. The market has also seen funds move across DeFi protocols as part of a short-term liquidity reallocation.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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