According to CoinMeta, Ethereum experienced a daily increase of about 18% on August 20th, with trading volume surging by 402%. More than $1 billion in short positions were liquidated, and the overall market value exceeded $1 trillion. However, beneath this rise, the structural vulnerabilities of the AAVE protocol remain unresolved. Data shows that 9% of positions on AAVE bear about half of the total debt, with an average health factor of only 1.06, which means that adverse fluctuations of 8% to 9% in the market could trigger liquidations. Although this rise did not test this vulnerability, it may also lead traders to increase leverage, further increasing risks. The current total locked-up value of AAVE is approximately $12.2 billion, with a stablecoin supply of $8.98 billion and a borrowing amount of $7.4 billion, resulting in a utilization rate of 82.46%.