Deconstructing RAVE Dealer Control Techniques
Author: Psyduck Fomo
Chip Distribution: 6 multi-signature wallets have locked 96% of the coins, with one address holding 77% alone. Retail investors hold less than 0.1% combined. Bitget is the main battlefield for spot trading, with 88% of exchange spot trading occurring on Bitget.
Contract Distribution: The contract open interest has exceeded the total available spot on the exchange, with an OI/spot ratio of 102.9%. Short sellers do not have enough assets to close their positions, creating a classic short squeeze deadlock. OKX accounts for 64.7% of the open interest, making it the largest powder keg. Once OKX faces liquidation, the impact will be greater than all other exchanges combined. The funding rate across the board is negative, and the short squeeze is far from over.
Liquidation Overview: $41.61 million was liquidated in 24 hours, with 73% being short positions. Bybit and Gate.io account for 53% of the liquidations, which are high-leverage disaster zones for retail investors. Gate.io's liquidation/OI ratio is as high as 35.65x
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