- AAVE, UNI, and ICP all posted double-digit weekly gains, drawing strong bullish trader interest.
- Open interest surged for AAVE and UNI, while ICP saw slower momentum but held technical strength.
The digital asset market strengthened last week. Several large-cap coins, each valued at over $1 billion, posted strong results. Among the top five performers were Aave (AAVE), Uniswap (UNI), and Internet Computer (ICP).
Aave registered a 12.94% rise over seven days. The token was priced at $291.54 as of the latest trading session, with a total circulating supply of 15.15 million tokens. Aave’s market capitalization stood close to $4.42 billion, backed by $585.7 million in daily trading volume.
Uniswap followed closely with a 12.23% increase for the week. Its price reached $7.14. Daily volume surpassed $503.7 million, and its total market capitalization stood at approximately $4.49 billion. The recent rally aligns with a broader upward move in decentralized finance-related tokens.
Internet Computer showed the strongest weekly performance among the three. Its price rose 16.60% over the week to reach $5.99. The token had 54 million units in circulation, placing its market cap at $3.20 billion. ICP’s daily trading volume was recorded at $205.4 million.
Derivatives Activity Signals Strong Bias for UNI and AAVE
According to Coinglass data, open interest in Aave derivatives climbed 26.35% in the past 24 hours, totaling $681.22 million. Uniswap followed with a 25.40% rise, now at $491.5 million. Funding rates for AAVE (0.0136%) and UNI (0.0055%) suggest traders leaned toward long positions.
AAVE short liquidations reached $3.15 million, while long positions took a smaller $106.53K hit. Uniswap liquidations totaled $837.42K, with short positions carrying most of the losses. These figures reflect increased long exposure for both assets.
In contrast, ICP’s open interest slipped 1.65% to $99.84 million. Liquidations over 24 hours were $795.40K, again affecting short positions more. Despite the decline in open interest, the funding rate of 0.0076% still points to some upward positioning.
Aave, Uniswap, ICP Flash Bullish Signals as Key Levels Near
From a technical view, Aave is trading well above both its 50-day and 100-day exponential moving averages, indicating firm price support. The MACD has formed a bullish crossover, and the RSI has moved above 70, suggesting the market is overbought in the short term. Despite this, the current setup leaves room for further gains. Holding above $290 could lead to a push toward $300 and possibly $338.
Meanwhile, Uniswap has held within a tight range between $6.04 and $7.38 for the last 23 days. It’s now near a key level. A close above $7.38 on the daily chart could open the way for a rise toward $8.63, a gain of about 16.94% from current resistance. The RSI sits at 61, and the MACD recently flipped positive, both pointing to continued strength.
ICP is trading just below the $6 barrier, with the 50-day and 100-day EMAs providing nearby support at $5.72 and $5.28. The RSI at 63 and a weekend MACD buy signal suggest bullish momentum. A daily close above $6 may bring the 200-day EMA at $6.72 into view, with $7.60 as the next possible target.
