Why is Aave down today?

The move

• Aave trades at $127.47, −5.56% over 24 hours and −14.99% over 7 days.Market prices
• Bitcoin moved −5.2% over the same 24 hours.Market prices
• Ether moved −4.2% over the same 24 hours.Market prices
• Of the 50 largest crypto assets, 43 fell and 7 rose; the median moved −3.4%.Market prices (top 50 by market cap)

Leverage

• At least $58K of AAVE positions were force-closed in the last 24 hours; 81% of it longs. The largest single liquidation was $23K.Binance, OKX and Bybit liquidation streams (a lower bound)
• Open interest in AAVE perpetual futures went from $54.1M to $56.9M (+5.2%).Perpetual futures on Hyperliquid's order book
• Funding moved from 10.8% to 11.0% a year (longs paying shorts).Perpetual futures on Hyperliquid's order book

Top traders

• The top traders Fexr follows are net short $9.6M in AAVE: 2 long and 12 short.Tracked traders' open positions on Hyperliquid's order book

On-chain

• 25 transfers of $250K or more moved $19.6M of AAVE on-chain; $668K came out of them.Ethereum ERC-20 transfers with verified labels

Events

• Token-holder vote “[ARFC] SVR Expansion: Next Phase of Multi-Network” closed 24 Oct.Snapshot
• Token-holder vote “[ARFC] Onboard mWIN (Midas / Wellington Management) to Aave Horizon” closed 26 Oct.Snapshot
• Token-holder vote “[ARFC] Aave V4 Deployment on Tempo” closes 31 Oct.Snapshot
• Token-holder vote “[ARFC] Aave V3.8” closes 31 Oct.Snapshot

What's next

Dated events ahead, not predictions.

• [ARFC] Aave V4 Deployment on Tempo31 Oct 2026, 12:11 UTC
• [ARFC] Aave V3.831 Oct 2026, 12:34 UTC