AAVE Rallies 6.98% to $115 as Shorts Pay Longs Amid Rising Open Interest

The AAVE market has experienced a series of unusual activities, including a significant negative funding rate on Bybit , coupled with substantial positive open interest rate of change outliers on both OKX and Bybit . These movements were accompanied by a notable volume surge on Binance and a strong positive sentiment outlier for AAVE . This confluence of data points suggests a complex interplay of short-term bearish sentiment in perpetuals markets, potentially driven by profit-taking or hedging, against a backdrop of increasing long positions and overall positive social sentiment, all occurring during a period of significant price appreciation for AAVE.