Why is Aave down today?

The move

• Aave trades at $132.11, −5.47% over 24 hours and −3.59% over 7 days.Market prices
• Bitcoin moved −0.4% over the same 24 hours.Market prices
• Ether moved +0.67% over the same 24 hours.Market prices
• Of the 50 largest crypto assets, 40 fell and 9 rose; the median moved −0.64%.Market prices (top 50 by market cap)

Leverage

• At least $461K of AAVE positions were force-closed in the last 24 hours; 42% of it longs. The largest single liquidation was $149K.Binance, OKX and Bybit liquidation streams (a lower bound)
• Open interest in AAVE perpetual futures went from $61.3M to $61.1M (−0.3%).Perpetual futures on Hyperliquid's order book
• Funding moved from -5.5% to 6.1% a year (longs paying shorts).Perpetual futures on Hyperliquid's order book

Top traders

• The top traders Fexr follows are net short $10.9M in AAVE: 2 long and 11 short.Tracked traders' open positions on Hyperliquid's order book

On-chain

• 25 transfers of $250K or more moved $33.9M of AAVE on-chain; $996K went into labelled exchange wallets and $395K came out of them.Ethereum ERC-20 transfers with verified labels

Events

• 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” closed 31 Oct.Snapshot
• Token-holder vote “[ARFC] Aave V3.8” closed 31 Oct.Snapshot