As a researcher with a background in cryptocurrency and blockchain technology, I find Coinbase Ventures’ continued accumulation of Aerodrome Finance (AERO) tokens intriguing. The fact that they have acquired over 4.7 million tokens worth $2.7 million is a significant investment, especially since the revelation came from on-chain data.
Coinbase Investments, the investment division of cryptocurrency platform Coinbase, has been buying substantial quantities of Aerodrome Finance (AERO) tokens following the public disclosure that they had previously purchased these tokens in the open market, according to data from Nansen.
Coinbase Ventures Continues to Accumulate AERO Tokens
Nansen, a crypto analytics platform, revealed that Coinbase Ventures continues to acquire Aerodrome Finance (AERO) tokens. According to the on-chain records of transfers originating from the Coinbase Ventures wallet, they currently hold over 4.7 million AERO tokens valued at approximately $2.7 million.
Crypto companies, including large entities, employ the use of personal TradingVaults to accumulate positions in various tokens. Starting in July, Coinbase Ventures was among these entities, increasing its holdings by an additional 1.5 million AERO tokens through the TradingVault. Nansen explained that all acquired AERO tokens from Coinbase Ventures are securely stored within the broader Aerodrome Finance ecosystem.
Coinbase Ventures, which manages the Base Ecosystem Fund, recently bought AERO tokens from Aerodrome. This investment fund focuses on backing innovative on-chain projects that are developed on the Base chain.
AERO Price Performance
In the past seven months, Aerodrome announced that it had surpassed the $1 billion mark in total transactions. Subsequently, within just three months following the implementation of Slipstream pools, the platform experienced a remarkable increase to a cumulative volume of $15 billion.
As a crypto investor, I’ve seen some impressive gains with Aerodrome Finance (AERO) recently. After the exciting news of Coinbase Ventures acquiring AERO tokens, the price skyrocketed over 500% for me. However, in the last 24 hours, there’s been a slight dip, and the price has dropped by 1%. Despite this minor setback, we’ve experienced a significant weekly rally of around 15%, which is an encouraging sign. The current 24-hour low and high stand at $0.603 and $0.631, respectively.
Additionally, there’s been a 12% decrease in trading activity over the last 24 hours, suggesting lessened trader engagement. A potential breach above the $0.65 resistance mark could lead to a subsequent price surge.
- Bitcoin ETF: Investment Advisor Goes All In On BlackRock ETF, Dumps ProShares BITO
German Govt Unloads Another 1125 Bitcoin To Coinbase & Other Exchanges
Bitcoin Whale and Shark Wallets With 10+ BTC At Two-Month High, What’s Next?
Read More
- ENA PREDICTION. ENA cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- USD COP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD ZAR PREDICTION
- BRISE PREDICTION. BRISE cryptocurrency
2024-07-11 12:56