2026's Largest DeFi Hack: Kelp Protocol Breached
- Hack Overview: On April 18, 2026, the Kelp protocol was hacked, resulting in a loss of approximately $293 million, with hackers using the stolen funds as collateral to borrow $195 million from Aave, leading to extreme user frustration and significant disruption across the DeFi market.
- Market Impact: Aave's total value locked (TVL) plummeted from $26.396 billion to $20.114 billion, a loss exceeding $6.28 billion, reflecting a sharp decline in market confidence in DeFi platforms and triggering panic withdrawals from other services.
- Token Price Fluctuation: The price of the AAVE token crashed from around $113 to a low of $86.99 following the incident, currently trading at $93.43, indicating market concerns about the platform's future viability and stability.
- Risk Management Advice: 1inch co-founder Sergej Kunz emphasized that DeFi protocols should move away from shared pool models and adopt intent-centric models to mitigate risk spread, urging users to avoid markets with weak risk management practices to safeguard their assets.
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Technical Analysis for 1INCH
Technical Sentiment Analysis for 1inch Network (1INCH). As of , 1inch Network (1INCH) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for 1INCH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, 1INCH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
1inch Network (1INCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0837 | 0.0877 | 0.0916 | 0.0956 | 0.0995 | 0.103 | 0.107 |
| Fibonacci | 0.0877 | 0.0907 | 0.0926 | 0.0956 | 0.0986 | 0.1 | 0.103 |
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