The AAVE token was trading around $185 to $186 on October 2, gaining roughly 13% over 24 hours and more than 26% over seven days, with futures volume reaching approximately $1.09 billion and open interest climbing to about $535 million. Aave V4 surpassed $1 billion in deposits during September and expanded to Base with an Equities Hub allowing tokenized Coinbase equities to serve as collateral. The Aave DAO’s buyback program, with a $50 million annual budget, and ongoing discussions about a potential token-burning mechanism have fueled scarcity expectations among traders. Short-position liquidations totaling $3.26 million over 24 hours created a short squeeze that amplified the price move, with the token now approaching overbought territory and facing immediate resistance at $190.
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