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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InThe AAVE token price continues its steep descent, down approximately 75% from its August 2025 peak following the exploit of Kelp DAO’s bridge on Saturday, April 18. The security breach led to a significant depletion of Kelp DAO's rsETH token reserves, a critical blow to a key player in the Ethereum restaking ecosystem. The incident resulted in a $292 million drain, impacting users who utilized the protocol for yield generation and causing an $8 billion drop in TVL. AAVE is currently trading near the $91 level, retesting a daily descending trendline as support amid a broader 2.5% fall in Bitcoin (BTC). While DefiLlama's founder defended the protocol's data integrity, analysts remain focused on collateral risks as the DeFi sector reassesses the impact on rsETH liquidity.