AAVE's continued decline led to a cascade of liquidations in the Hyperliquid long positions. The founder's "self-funded market rescue" is now facing a $2 million unrealized loss.

BlockBeats News, December 23, according to HyperInsight monitoring, in the past 15 hours, impacted by AAVE's continuous decline yesterday and this morning, the leading bull whale (0x074) on Hyperliquid was liquidated multiple times and forced into bankruptcy, with a short-term liquidation scale of approximately $1.19 million. The long position was opened on November 16 at an average price of $189.

According to on-chain analyst Yu Jin's monitoring, Aave founder Stani Kulechov once again bought AAVE tokens this morning. Stani extracted 1699 ETH (approximately $5.17 million) from Kraken early today and bought 32,658 AAVE at an average price of around $158.

Of note, this is Stani's second recent dip-buying. As early as December 16, when the governance conflict between the Aave development team and the community DAO escalated, he began buying. According to statistics, since the start of this governance dispute, Stani has cumulatively used 5000 ETH (approximately $14.84 million) to buy 84,033 AAVE in batches, with a weighted average cost of around $176.6. He currently holds 84,033 AAVE, worth $12.6 million, with an unrealized loss of about $2 million.

Yesterday morning's news, the Aave community will open the "Asset Brand Control Transfer to Holders" ARFC proposal vote on Snapshot tomorrow at 10:40, and the vote will continue until December 26. The whale address ranked second in AAVE holdings sold 230,000 AAVE (approximately $38 million) before this news was released, causing AAVE's price to briefly drop by over 12%.