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I also didn't expect that due to a fund issue involving over 200 million dollars, Aave's lock-up would actually run off more than 10 billion, out of a total of just over 40 billion. Losing 30% in one go is just too harsh.
This matter is far from over even now. There are donations being organized, and all kinds of messy problems are surfacing. On the surface, it looks like active self-rescue, but I always feel there's a lot of water beneath.
With such a level of risk event, how could it be so easy to just turn the page?
Although purely from the candlestick chart, it seems to have bottomed out and has some support. But if you think carefully, so many shocks happening at once, haven't even caused a real sustained fermentation effect.
Recall that before the shocks at around 100 and 110, it has only fallen to over 90 now, which is just a drop of a dozen or so points.
TVL has directly disappeared by 30%, but the price has only fallen by about ten percent? That’s definitely abnormal, indicating that the market’s panic sentiment hasn’t been fully released yet.
The current price simply hasn't fallen through completely.
So far, on the surface, it looks like funds are being raised, and the compensation plan seems to have some basis. Everything appears orderly, but in my view, this isn’t over.
I personally think this issue might still need to ferment further. The so-called stabilization now is just being forcibly held up; it’s only temporarily stabilized.
The real test is still ahead. At this level of crisis, there could be a sudden further drop at any time.
It’s terrifying. I initially thought about bottom-fishing for a rebound, but now I’m completely scared off.
My plan is very clear: once there’s a rebound, I will immediately close my long positions and not hesitate.
Playing with fire at this point is worse than leaving early; securing profits is the most realistic approach.