Hey, did you see that story about RAVE? On April 13th, the price skyrocketed from $0.3 to $6.2 in just a few hours, a 20x increase. People in the community started to suspect market manipulation behind it all. According to circulating data, liquidations across the network exceeded $37 million, with over $31 million of short positions. They estimate that the project made more than $30 million from the operation. The RAVE project is run by the team that previously worked with ARPA and Bella Protocol. The main guys are Felix Xu and Yemu. Felix is known for creating the ZX Squared Capital fund in 2021, which raised $20 million and specializes in quantitative trading. It seems that it was precisely from this fund that the resources came to pump the RAVE price. What’s striking is that the project operates quite independently, with its own market-making and funding, which minimizes insider trading risks. Yemu and the team managed to orchestrate all of this while keeping a low profile. Interestingly, now, on April 27th, RAVE dropped to $1.19, showing that the pump didn’t last long. The lesson is to always stay alert to suspicious price movements.