RAVE's price briefly exceeded $28, leading to over $20 million in liquidations across the market in the past 24 hours, according to Coinglass data. The cryptocurrency is experiencing significant negative funding rates on major exchanges such as Binance, OKX, and Bybit, with annualized rates ranging from 1,200% to 2,400%. This positions RAVE at the top of the negative funding rate leaderboard, indicating substantial subsidies from short sellers to long holders.