AAVE Soars Towards $190 as Short Liquidations Hit $3.26 Million
AAVE's price surged towards $190 on October 2, driven by a sharp rise in its value that triggered around $3.26 million in short liquidations over 24 hours, according to Coinglass data.
The liquidations accounted for approximately 85% of the total recorded across AAVE derivatives markets, indicating that bearish positions bore most of the impact during the advance.
AAVE was trading around $185-$186 on October 2, up about 13% over 24 hours and more than 26% over seven days. Futures trading volume reached approximately $1.09 billion, while open interest stood at about $535 million.
The increase in derivatives activity came as AAVE extended a recovery that began from levels around $120 in September. On the daily chart, the token formed a series of higher highs before approaching $188, with trading volume rising alongside the breakout.