A total of 350,000 aave (AAVE), equivalent to about $31.7 million, were sent to exchanges in the last 24 hours, following the Kelp DAO hack. The data was reported today, April 20, 2026, by the CryptoQuant analyst known as Darkfost. These types of movements It is closely followed by the market, since it usually anticipates selling pressure.
As seen in the graph, AAVE inflows to Binance (green bars) registered a significant increase during the last day. In parallel, the white line shows the evolution of the asset’s price. On the far right of the graph, a peak in inflows close to $21 million is identified, coinciding with a drop in price. When investors send tokens to exchanges, The probability that they will seek to sell them increases, especially in contexts of uncertainty.
However, at the time of publication, AAVE price shows a weekly drop of more than 3%suggesting that, despite the strong flow to exchanges, the adjustment in the value of the asset does not yet fully reflect the magnitude of the stress observed in the on-chain data. Currently, AAVE is trading at $90.18.
AAVE quote in the last 7 days. Source: CoinMarketCap. Darkfost also linked this move to the overall deterioration of the DeFi ecosystem. “The AAVE token experienced an abrupt correction of around 15% on the day, reflecting both widespread stress among investors and a clear deterioration in sentiment towards the protocol,” he noted. As BitcoinDynamic has reported, The immediate context of these movements is the hack of the Kelp DAO bridgewhich occurred on April 18, which compromised 18% of the rsETH (liquid restored ether) supply. This event triggered a liquidity crisis at Aave, where the ether utilization rate reached 100%, generating restrictions on withdrawals. At the aggregate level, he DeFi ecosystem recorded an outflow of more than $7.4 billion in 24 hourson a total blocked value close to 85,000 million, which shows the magnitude of the impact. Although the price does not yet reflect a drop proportional to the volume mobilized, on-chain data suggests that selling pressure could continue if confidence in the DeFi sector is not stabilized.
