RAVE spot prices have surged significantly in the short term, suspected to be harvested through contract operations

According to on-chain analyst Yu Jin's monitoring, the spot price of RAVE has risen from $0.3 to $6.2 in the past three days, achieving an increase of about 20 times. During this period, the RAVE team first transferred 30.58 million RAVE (worth about $42 million) to Bitget, attracting funds to short.

Subsequently, in the past two days, another 31.94 million RAVE was brought back on-chain from Bitget, significantly raising the spot price of RAVE on trading platforms like Bitget.