Revolut transferred more than $6.44 million worth of AAVE from its cold wallets to Coinbase in a single day, moving away from its previous model of selling through hot wallets.
The change reignited concerns about fresh supply tied to the currency and tested the market’s ability to absorb large transactions.
But, this transfer by itself it did not trigger a sudden deterioration in the price structure. Instead, traders continued to evaluate whether the move represented profit-taking or routine treasury management.
The size of the deposit still attracts attention because cold wallet transfers often signal a stronger intention to move assets to exchanges.
Funding Rates reflect a continuous upward trend
Derivatives investors also displayed a constructive outlook throughout the session.
OI Weighted Funding Rates remained positive at 0.0045%; This shows that long position holders continue to pay premiums to protect their risks. The reading suggested that bullish positioning remained dominant rather than shifting to a defensive short position.
Although funding has fluctuated in previous weeks, recent data confirms that leveraged investors still prefer higher prices. However, the premium remained relatively modest, reducing concerns that the futures market was overheating.
The combination of positive funding and resilient spot demand has reinforced the broader bullish narrative despite renewed selling concerns.
If derivative positions remain stable, leveraged participants may continue to support AAVE’s recovery rather than accelerating downside volatility.
AAVE maintains trendline while challenging resistance
During analysis, Aave (AAVE) It traded near $98.21 after repeatedly respecting the rising trend line from the June lows.
The asset also challenged the $100 resistance area without making a definitive breakout.
Meanwhile, the Relative Strength Index (RSI) recorded 58.01, remaining comfortably above the neutral 50 level, reflecting healthy purchasing power without entering overbought territory. The RSI moving average also remained at 55.49, supporting the broader recovery structure.
The fact that the price continued to form higher lows along the ascending trend line showed that buyers were constantly advocating pullbacks rather than giving up control.
If AAVE closes above $100, buyers can target the next resistance near $120.
But another rejection would likely shift attention towards the $90 support, where the current uptrend will face the next significant confirmation.
Final Summary
- Revolut’s foreign exchange transfers raised supply concerns, but buyers continued to withdraw existing AAVE liquidity.
- AAVE still defends the uptrend and the $100 resistance remains in focus.
