Rave ranks alongside bitcoin and ether in the top three — just not in the way you think

RAVE has surged several thousand percent in seven days, driving frenzied trading activity and large liquidations, second only to industry leaders bitcoin and ether. What to know : RaveDAO’s RAVE token is the third-largest cryptocurrency by futures liquidations after bitcoin and ether. Exchanges have liquidated about $43 million of RAVE futures in the past 24 hours, mostly short positions, in what appears to be a short squeeze fueled by large token transfers to and from exchanges. Nearly 90% of RAVE’s supply is concentrated in three Gnosis safe wallets, according to Arkham.