Why AAVE crypto traders must watch $113 support after Binance hack

Around 9 pm UTC on the 29th of October, a Binance hot wallet on Ethereum sent 63 ERC-20 tokens and 167,464 ETH in a single transaction. The same exploiter address received another 28,006 ETH in a second transaction from a second Binance hot wallet on Ethereum, along with funds from Arbitrum [ARB], Optimism [OP], and Avalanche [AAVE]. In response, the Aave markets across all networks were frozen, stopping everyone, including the exploiter, from opening new supply or borrow positions. The broader market has reacted bearishly, with Bitcoin [BTC] and Ethereum [ETH] down 3.46% and 3.93% in the past 24 hours, compared to Aave's 5.67%. The crypto market witnessed over $1.50 billion in liquidations, with a majority being long liquidations. Is the long-term AAVE trend bullish?

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