TL;DR
- AERO is up 29.52% over the past 7 days, driven by Coinbase’s cbBTC launch.
- Aerodrome Finance is close to becoming the leader in $BTC trading on Coinbase’s Base network.
- The AERO token has reached a market capitalization of $423,834,590, ranking #207 in the cryptocurrency ranking.
Aerodrome Finance’s AERO token has seen remarkable growth in recent weeks, establishing itself as one of the best-performing crypto assets.
This rise is closely related to the recent launch of cbBTC, Coinbase’s wrapped version of Bitcoin, which has significantly boosted Aerodrome’s liquidity and its presence on Coinbase’s scaling network, known as Base.
Just a few days in and @AerodromeFi is just a hair from taking the top spot for $BTC trading.
— alexander (@wagmiAlexander) September 17, 2024
Since Sept. 6, when AERO was trading at $0.49, the token has seen a steady rise until reaching $0.72 on Sept. 13, erasing the drop it suffered earlier in the month, according to official data from CoinMarketcap.
Aerodrome Finance has stood out as a “hub” for protocols looking to deploy on Coinbase’s Base network.
This has allowed Aerodrome to quickly gain a significant share of the decentralized exchange (DEX) market, cementing its position as a key player in the DeFi ecosystem.
Even though the DEX market as a whole experienced a decrease in volume in August, Aerodrome was one of the few projects that saw an increase in volume, growing from $7.2 billion to $9.9 billion.
Furthermore, the launch of cbBTC has directly benefited AERO, as Aerodrome was one of the platforms chosen by Coinbase to support this new asset from day one.
This influx of liquidity has allowed AERO to increase its value in a short period of time, positioning itself on the verge of leading BTC trading on the Base network.
Currently, the AERO token is valued at $0.6895, with an increase of 29.52% in the last 7 days, and a market cap of $423,834,590, ranking #207 globally.
Future perspectives for AERO
So far this year, AERO has managed to quadruple its price, thanks to its growing adoption and its strategic position within the DeFi market.
In February 2024, the price of AERO had already shown signs of growth following the announcement of the Base ecosystem fund investing in Aerodrome.
As the token continues to gain traction, analysts remain optimistic about its near-term future.
AERO is expected to continue its uptrend, especially if Bitcoin continues its positive movement.
A recent analysis highlights that AERO has shown strong support around the $0.44 level, suggesting that the price could reach $1.25 if market conditions remain favorable.
Furthermore, the increasing competition among DEXs seems to be favoring Aerodrome, which has managed to capture a significant market share of 5.17%.
Against this backdrop, Aerodrome Finance continues to stand out for its role in the DeFi ecosystem, as investors closely watch its evolution and ability to outperform traditional competitors like Uniswap.
