AAVE continues to decline, causing major long positions on Hyperliquid to be liquidated; the founder's "self-funded bailout" has already resulted in a floating loss of $2 million.

BlockBeats News, December 23, according to monitoring by HyperInsight, in the past 15 hours, affected by the continued decline of AAVE yesterday and this morning, a major long whale (0x074) on Hyperliquid was liquidated and forced to close positions, with a short-term closing scale of about $1.19 million. This long position was previously opened on November 16, with an average price of $189.

According to on-chain analyst Yujin, Aave founder Stani Kulechov once again purchased AAVE tokens this morning. Earlier today, Stani withdrew 1,699 ETH (about $5.17 million) from an exchange and bought 32,658 AAVE at an average price of about $158.

It is worth noting that this is Stani's second time recently buying the dip. As early as December 16, after the governance conflict between the Aave development team and the community DAO escalated, he began buying. According to statistics, since the start of this round of governance controversy, Stani has used a total of 5,000 ETH (about $14.84 million) to purchase 84,033 AAVE in batches, with a comprehensive average cost of about $176.6. He currently holds 84,033 AAVE, valued at $12.6 million, with an unrealized loss of about $2 million.

According to news from early yesterday, the Aave community will launch an ARFC proposal vote on Snapshot at 10:40 (UTC+8) tomorrow to "transfer brand asset control to token holders," with voting continuing until December 26. The whale address with the second largest AAVE holdings sold 230,000 AAVE (about $38 million) before the news was released, causing the price of AAVE to drop by more than 12% in a short period.