PANews reported on July 23 that according to Aunt Ai, in response to the recent concentrated unstaking of 620,000 ETH, blogger @0xdoge_bull inferred that Aave ETH deposits were withdrawn in large quantities in a short period of time, causing borrowing interest rates to soar, and revolving loan players turned from earning interest rate spreads to losses, and were forced to redeem stETH to deleverage, which ultimately led to this large-scale unstaking. In terms of data, Aave ETH borrowing APR once soared to 10%, Lido's stETH withdrawal waiting period was also extended to 21 days, and the on-chain stETH exchange for ETH showed a discount of nearly 0.4%.