The article discusses the possibility of short squeezes for older altcoins like MANA, GRT, and AAVE. These altcoins have accumulated short positions on Binance, which could lead to squeeze rallies in the near future. Short positions on altcoins have increased due to the perception that they are overvalued, despite no indications of an altcoin bull market based on the performance of the top 100 assets. However, some altcoins have built up enough positions on Binance to potentially trigger a short squeeze.

Smaller cap altcoins are also experiencing rebounds with little resistance, resulting in strong daily rallies. Tokens like FET, SUI, OP, and TON have grown by up to 20% in a single day.

Specifically, MANA has the potential for a short squeeze as it has an open interest of $8.3M on Binance and $17.52M on other exchanges. Despite its recent decline in value, the Decentraland team is still actively working on the project and is preparing for the launch of Decentraland 2.0. The potential news around the relaunch could trigger a liquidation of the short positions on MANA.

GRT, on the other hand, is not heavily shorted, but there may still be attacks on long leveraged positions. The Graph specializes in supplying Web3 data and may benefit from a return to DeFi and high-traffic activities.

AAVE has seen a significant rise from its bear market lows and has drawn in smart money. The AAVE protocol has also seen a substantial increase in the value locked, but this is not yet reflected in the token price. AAVE carries a significant amount of open interest on Binance, and the recent rally may continue and potentially lead to a short squeeze.



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