cnchina crypto

This morning, I sold some ETH between 2360 and 2390, and set a buy limit order at 2352. I was a bit worried I might miss it, but around noon it dropped to 2320, so I successfully flipped it. This week’s gap is covered. Next, I bought some ETH at 2325, mainly betting that it will bounce back above 2350 tonight. If it works out, it'll be another flip. I think the chances of that happening are quite high $ETH .

This weekend, there isn’t much shaking up the market. However, one thing to keep an eye on is the unexpected armed attack at Trump's White House dinner. Thankfully, there were no injuries. For Trump, this might actually be a good thing, especially with the midterm election pressure ramping up. It's reminiscent of when he almost got hit by a shooter before the last election, which could help offset some of the recent negative news about him.
Honestly, this guy has some serious luck; this is already the fourth time he's been shot at, and he’s come out unscathed each time. Here’s the rundown:
First time, during the 2024 campaign rally, the one everyone knows about.
Second time, in August 2024 at a golf club, where the shooter was caught before making a move.
Third time, at a California campaign rally in October 2024, where security was tight and the suspect was apprehended outside.
The fourth time was this February at Mar-a-Lago, where an armed intruder was shot on the spot.
This latest incident at the White House Correspondents' Dinner had the shooter caught during security checks before he could even get inside.
After watching the video, it’s evident that Trump remained relatively calm and collected, possibly due to his past experiences. In stark contrast, Vice President Vance was all over the place, rushing around. It was so obvious, and even after the incident, some folks in the venue casually swiped bottles from the tables. Truly a wild country. $WLFI $BTC $ETH

A new week has kicked off, and right now BTC has no gaps, while Ethereum has a small gap that needs to drop below 2350. Keep in mind that this price refers to the CME ETH futures price, not the prices on exchanges like Binance, as there's a price difference of about 10 to 20 bucks between them. The gap this time isn't significant, so you might want to consider selling a bit above 2370 and placing a buy order at 2350 to snag a point profit. If you're not keen on the hassle, just skip it; after all, this gap is really too small this time around. $ETH $BTC

The price for SpaceX shares on Gate.io has dropped, currently around 600u, which is slightly above the issue price of 590. Compared to Bitget's 654, it's still a solid value. On the other hand, SpaceX shares on Binance Wallet are still around 700, so Gate.io's price is the lowest across the board right now, making it a worthy buy #spacex

After almost a week of talks, the bosses finally reached an agreement, and etherfi lido is finally ready to put their money where their mouth is. Aave got a lifeline this round; this dip is shaping up to be a golden opportunity, so it's time to get positioned ahead of the rebound. I snagged some teth and I'm waiting for it to kick off, hoping to cash in on some price action. $eth $aave #treehouse

Qwen has dropped their Qwen 3.6 27b model, and I've noticed that major updates to large models are coming in hot lately. Models like Gemma 4 and Nvidia's Nemotron 3 have also recently rolled out updates, making the entry barrier for using these large models lower and the user experience pretty slick.

Last 24 Hours News

SpaceX Acquires AI Coding Tool Cursor for $60 Billion (Last Night 21:23)

Elon Musk's SpaceX has signed a deal to acquire Cursor (AI coding assistant) for $60 billion. This magnitude of AI acquisition is making waves in the tech scene, and the crypto narrative around AI is riding the wave as well.

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🚔 Founder of Believe Arrested, BELIEVE Token Drops 24% (Today 09:04)

BlockBeats: Believe founder Ben Pasternak was arrested by a New York court, facing charges of second-degree strangulation and third-degree assault. The BELIEVE token once reached a market cap of $142 million on its launch day, but has since been cut in half, dropping another -24% today, with a market cap now just $900,000.

It's the crypto version of "founder exit" 2.0—one gets arrested, and the token goes to zero.

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💼 Blockchain Capital Raising $700 Million for New Fund (Today 08:55)

Crypto VC Blockchain Capital is raising $700 million for two new funds, having already started deploying some of the new capital, expecting to wrap up the fundraising in 5-6 months.

Institutions are still pouring money into this, which is a positive signal for the market in the medium to long term.

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🦊 MetaMask Co-Founder Announces Departure from Consensys (Today 08:48)

MetaMask co-founder Dan Finlay tweeted: "Today is my last day at Consensys," stating he is exhausted and ready to leave the parent company he has worked with for over a decade.

MetaMask is the largest wallet in the Ethereum ecosystem, and the departure of a co-founder is worth keeping an eye on for any new projects that may emerge.
$ETH $BTC

AAVE Recent Developments in the Last 12 Hours

AAVE Current: $93.12 / +1.5%, aftershocks from the event are still ongoing but prices have stabilized

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1｜🚨 Hacker Laundered $175 Million ETH into BTC (Today 09:05 Beijing Time, just released)

BlockBeats on-chain data analyst Yu Jin monitored: The KelpDAO hacker's 75,700 ETH (approximately $175 million) has been laundered over the past day and a half, with most of it swapped into BTC via THORChain cross-chain.
> Side effect: This transaction brought $800 million in trading volume to THORChain and generated $910,000 in fees.

This means the illicit funds have nearly completed their transfer, and the chances of recovery are extremely low. The bad debt issue will have to be resolved internally by AAVE.

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2｜Circle Steps In: Proposes Emergency Plan to Unfreeze Aave's $1.89 Billion USDC Pool (Last Night 04:37 Beijing Time)

The Defiant: Stablecoin issuer Circle submitted an emergency interest rate adjustment proposal to the Aave community, stating that Aave's USDC lending pool has been operating at full capacity for 4 days, and the interest rate curve cannot properly liquidate the $1.89 billion large pool, requiring manual parameter adjustments.

The fallout from the Kelp incident is not just about WETH — the USDC pool is also jammed, with a broader impact than previously anticipated.

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3｜Aave's TVL Evaporates by $10 Billion, SparkLend Seizes $1 Billion Opportunity (Last Night 02:07 Beijing Time)

The Defiant: Since the Kelp incident, Aave's Total Value Locked (TVL) has dropped by $10 billion. Meanwhile, competitor SparkLend (under MakerDAO) has absorbed over $1 billion in new deposits, with users actively migrating their funds.

Voting with their feet, the money is already starting to flow out. $aave $eth

Aave Latest Developments Today (April 22)

Event Timeline (From Outbreak to Today)

April 19 — Kelp DAO's LayerZero cross-chain bridge was attacked, the attacker forged rsETH to borrow WETH from Aave, and Aave urgently froze the WETH market

April 20 — Aave's official service provider released an event report, with the scale of bad debts officially quantified:
$124M ～ $230M (two scenarios, depending on how Kelp DAO allocates the losses)
LayerZero and Kelp are still blaming each other

April 20 Evening — Joint Escape Channel Launched:
Fluid's aWETH Redemption Protocol, in collaboration with Lido, Ether.fi, 1inch, 0x, and Kyber, provides an exit for users trapped in the Aave frozen WETH pool, processing $136 million in redemptions within 48 hours

April 21 — 🟡 Aave WETH market partially unfrozen
Not fully restored, but partially open, redemption channels are gradually opening

• Progress: WETH Market; Status: 🟡 Partially Unfrozen, Recovery in Progress
• Progress: Scale of Bad Debts; Status: $124M～$230M, Still Controversial
• Progress: Kelp vs LayerZero Responsibility; Status: 🔴 Blaming Each Other, Undetermined
• Progress: Security Module Activation; Status: 🟡 Under Discussion, Not Triggered
• Progress: Fluid Escape Channel; Status: ✅ $136 Million Processed

A lot of folks are saying Trump is just blowing smoke and can't be trusted, but this time he might be onto something. Trump mentioned waiting for a unified stance from Iran before responding, which basically means extending the ceasefire.
This isn't just another TACO situation; there's some serious internal conflict in Iran right now. The Supreme Leader Khamenei's son is still in a coma, and nobody really knows what's going on. I'm starting to question Iran's previous statements, maybe the Don is onto something after all.
But this whole situation has definitely pumped the market, and now $BTC is steadily climbing.

Yesterday BTC pumped, but ETH didn't catch a break. The main reason is that the kelpDAO situation is still unresolved, and the parties are still negotiating internally. In DeFi, folks are leaning towards defensive investments, so as the foundational L1, ETH lacks the momentum to rise. However, dragging this out isn't a viable strategy; typically, we see clear improvements within a week. After all, for AAVE, every day feels like a loss, and LayerZero is viewed with skepticism. Thus, the game will likely reach a compromise at some point, and the market will gradually settle down. Right now, it's all about positioning and taking the time to strategize, but of course, the key is to pick the right assets, like $ETH.

The SpaceX pre-IPO on Bitget wrapped up, but at the current price of 650, the value proposition isn't great. We'll have to see if it can hold steady at 700. The off-exchange price was only in the 400s earlier this year, meaning it just climbed up recently, so there's not much of a price edge. Gate.io doesn't set a pre-IPO cap mainly to attract more liquidity into their exchange. They offer a lower price, but with more participants, the allocation per person gets smaller. Each approach has its pros and cons, but the only downside is that Binance and OKX didn't get in on this action.

AAVE's current issue is that it has not come up with a solution. Kelpdao intends to shift the blame to layerzero. The hackers are also clever; this approach quickly handles the currency while making all parties involved bear the consequences, thus avoiding a larger scale collapse in the crypto world. After all, they can still manage it if they grit their teeth, but it also means they cannot overfish the waters. Of course, for users, it's still a matter of patiently waiting; don't panic. Given AAVE's large scale, I feel there's a high probability that nothing serious will happen. It's just that market enthusiasm has been suppressed in the short term $ETH $AAVE .

The gap that dropped over the weekend has been filled, and the gap-filling strategy is still useful
$ETH

Treehouse has also been influenced by rseth. I estimate that Treehouse might be holding some rseth tokens, so missing out on their activities in the Binance wallet might actually be a blessing in disguise.

Aave Genesis Pool Paused — Root Cause: KelpDAO Hacking Incident
Incident Timeline: April 19, 2026 (Yesterday)

💥 Incident Details
KelpDAO was hacked, suffering losses of up to $292 million, marking the largest DeFi hacking incident of 2026 so far.
The attacker exploited a vulnerability in KelpDAO's LayerZero-based rsETH bridging protocol to mint 116,500 rsETH (worth about $293 million) out of thin air.
Most of the stolen rsETH was deposited into Aave V3 and V4, and then borrowed as ETH; a small portion was sold directly for ETH.
The hacker obtained approximately 106,000 ETH ($250 million) by collateralizing and selling.
🚫 Aave's Response
Aave officials subsequently announced:

The rsETH market on Aave V3 and V4 has been frozen (eMode turned off, assets are not available for lending).
The Aave V3/V4 contracts themselves were not attacked; the issue lies with the rsETH collateral.
The purpose of the freeze is to prevent new rsETH deposits and loans until the situation is assessed.
Aave is reviewing the loan situation, assessing potential bad debts, and will explore ways to mitigate losses.
📉 Market Reaction
AAVE token plummeted over 18% in a single day.
Several whales sold AAVE (smaugvision sold 20,000 tokens, 0xFC56 sold 20,000 tokens, average price around $103).
Multiple protocols, including SparkLend and Fluid, also experienced a wave of rsETH freezes.

rseth has a significant impact on DeFi, especially since it affected the foundation of AAVE. A few days ago, I participated in native weth savings and investment a few times, and then treehouse's savings and investment came along. At that time, I thought the interest was high, so I went over. I redeemed and waited for three days, and last night I successfully redeemed and was ready to go to treehouse. However, treehouse notified me that due to the rseth issue, they temporarily closed the active pool. The native pool is still fine, and if I had known earlier, I wouldn't have gone through all this trouble. It was really a hassle, and I lost quite a bit in transaction fees.... $ETH

The recent gaps are quite numerous, it seems there are new ones every week. To check the gaps, you need to use the US time zone; if you look at it from the China time zone, their trading day will be split into two. Such gap data can be misleading. The standard is to look at the lowest price between 6 PM the day before last week and 5 PM on Friday in Beijing time. Then, consider today, Monday, from 6 AM until now. If it has consistently stayed below that lowest price, then there is a gap. Conversely, if it's higher—even just a little bit—it counts as the gap being filled. What we need to do is buy before filling the gap, then place an order to sell at a price slightly above the gap. Next, we wait for $BTC $ETH

This week there was another gap. Taking Ethereum as an example, ETH needs to return to around 2320 to fill the gap. I bought some spot again, waiting to fill the gap $ETH

By the way, I made a little money on the gap that was filled. It's rising too fast right now, so I sold a bit and will buy back when it pulls back. Target price 2310 $ETH