RAVE Sees $52 Million in Liquidations as Manipulation Allegations Intensify

RAVE Sees $52 Million in Liquidations as Manipulation Allegations Intensify

ZachXBT said RAVE plunged 95% in 24 hours from $26 to $1, while alleged concentration of supply across linked addresses raised fresh concerns about market manipulation.

Fact Check
The exact liquidation figures in the statement match the directly fetched PANews article, titled 过去4小时RAVE爆仓超1150万美元,主爆多单 | PANews, which states $11.57 million total liquidations over 4 hours, split into $7.49 million long and $4.08 million short. The same PANews article also says ZachXBT had disclosed suspected insider manipulation affecting RAVE and that the bounty for leads increased to $25,000. Independent corroboration comes from Yahoo Finance - RAVE Pump-and-Dump Allegations Spark $25,000 Bounty and Exchange Pressure, which confirms ZachXBT publicly accused insiders of manipulating RAVE and that the bounty rose to $25,000. However, I could not directly fetch the linked X posts or the Coinglass page in this run, so the manipulation claim is corroborated but not directly validated from ZachXBT's original post here. That leaves moderate residual uncertainty, but the available evidence overall supports the statement.
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Summary

RAVE fell 95% in 24 hours from $26 to $1, according to ZachXBT, who also said the token saw $52 million in liquidations that wiped out a $6 billion market cap. He offered a $25,000 bounty for information related to the alleged manipulation and claimed that nine linked addresses control about 95% of the circulating supply. The new figures represent a sharp escalation from earlier reported liquidation totals and deepen scrutiny over possible insider-driven market abuse.

Terms & Concepts
  • Liquidations: Forced closures of leveraged trading positions that occur when losses exceed collateral or margin requirements.
  • Market manipulation: Actions intended to artificially influence an asset’s price, trading activity, or market perception.
  • Circulating supply: The portion of a token’s total supply that is currently available and tradable in the market.