Overview
- RAVE rocketed more than 5,300% to a $19.54 record, then fell nearly 45% to about $10 before recovering toward $15.
- Futures interest swelled, with open interest reported near $470 million and funding costs turning less negative, which signals stronger long-side bets.
- On-chain data shows about 90% of tokens sit in three project-linked wallets, and 18.58 million tokens moved to Bitget hours before the surge.
- Short sellers bore the largest losses during the squeeze, with an estimated $17 million to $22 million in short positions liquidated within 24 hours.
- KuCoin listed RAVE for USDT spot trading, expanding access beyond earlier secondary-exchange venues.