-
Aave surged nearly 20% while Bitcoin slipped below $60K, backed by strong whale accumulation and rising network activity.
-
AAVE’s rising open interest and negative funding rates suggest growing bullish momentum, keeping the $100 target in focus this month.
While the broader crypto market continues to struggle, Bitcoin remains stuck below the crucial $60,000 mark, keeping market sentiment under pressure. However, not every token is following the bearish trend. Aave Price has emerged as one of the strongest outperformers over the past few days, climbing nearly 20% from around $72 to $86 between June 24 and 26, even as Bitcoin printed fresh local lows.
This unusual divergence has caught the market’s attention, raising questions about what is driving AAVE higher when most altcoins continue to struggle. A closer look at the on-chain and derivatives data reveals that whale accumulation and growing network activity may be playing a major role.
Whale Activity and User Growth Explain the AAVE Rally
The latest Santiment data paints a strong bullish picture for AAVE. Whale transactions above $100,000, which usually average around 30 to 50 per day, spiked sharply to 105, 89, and 128 between June 23 and June 25. This marks the highest large-holder activity seen this month and suggests that bigger players are actively accumulating during the broader market weakness.
At the same time, network usage also moved higher. AAVE’s active addresses climbed to 2,804 on June 25, the highest level in the past 30 days and well above its usual range of 800 to 1,600. Rising whale activity alongside growing user participation often signals strong market conviction, especially when both metrics expand during a price rally.
AAVE Price Analysis: Derivatives Data Supports the Bullish Momentum
The derivatives chart further strengthens the bullish case. AAVE’s price has risen steadily while Open Interest (OI)climbed from around 1.3 million to 1.64 million, showing that fresh positions are entering the market rather than the move being driven by short-term spot buying alone. This kind of price and OI expansion usually reflects growing participation and stronger momentum.
Another important factor is the funding rate, which remains slightly negative at -0.0026 despite the rally. This suggests that many traders are still leaning bearish and positioning short, which leaves room for additional upside if those shorts begin to unwind. Negative funding during a rising price trend often acts as fuel for a short squeeze.
The buy-sell volume delta also shows aggressive buying pressure stepping in over the past few sessions, confirming that demand remains strong. However, the Cumulative Volume Delta (CVD) remains in negative territory, although it has started to stabilize. This means that while the broader spot market hasn’t fully flipped bullish yet, sellers may be gradually losing control.
Taken together, the technical and derivatives setup suggests AAVE’s recent rally is being backed by both whale accumulation and increasing market participation, making it more sustainable than a typical short-lived pump.
Conclusion: Can AAVE Hit $100 This Month?
AAVE is showing strong relative strength at a time when the broader crypto market remains weak. The combination of rising whale transactions, growing active addresses, increasing open interest, and negative funding creates a strong bullish setup that could continue to support the rally in the near term.
If AAVE manages to maintain momentum above the $85–$88 zone, the next major psychological target remains $100, which now looks increasingly realistic if buying pressure continues. A breakout above that level could further strengthen the bullish structure.
On the downside, if the rally loses strength and Bitcoin extends its weakness, AAVE may revisit support around $78–$80before attempting another move higher. For now, the data suggests one thing clearly—while much of the market is still selling, smart money appears to be accumulating AAVE aggressively.
