AVAX largely moved with the market. AVAX fell further than this on 1 of the past 29 days. No AVAX report was collected from the day before to the day after; the cause is unresolved.
Aave’s freeze of Avalanche lending markets after a reported large unauthorized outflow is a plausible source of concern during the fall, but the evidence does not establish its contribution. No market-positioning data clearly explains the move.
A report published Oct 29, 15:09 UTC said Aave froze its Avalanche markets to prevent a suspected hacker from using stolen AVAX as collateral, after funds reportedly moved across chains. Concern about the incident could have weighed on AVAX.
The report does not establish when the freeze occurred or when traders learned of it; no link to actual AVAX selling or the fall’s onset is shown.
Weaker possibilities: Positive funding alongside a 2.97% increase in open interest and a slightly lower buyer-initiated volume share is consistent with derivatives-market activity that could have amplified selling. (OKX perpetual swap: settled funding, OKX perpetual swap: open interest, OKX perpetual swap: taker buy/sell volume)
Did the reported outflow and lending-market freeze trigger selling, and when did that news reach traders?
Looked at the 24 hours to Oct 30, 2026, 00:28 UTC
Computed from OKX · USDT hourly candles for the 24 hours to Oct 30, 2026, 00:00 UTC. Methods →
Largest closed hourly move: -5.54%, Oct 29, 2026, 20:00–21:00 (UTC).
2 sharp price swings were flagged; the largest was +1.68% in 5 minutes at Oct 29, 2026, 21:19 UTC.