Aerodrome Finance Token Sees 8-Day Rally Amid Increased Trading Volume

The Aerodrome Finance token (AERO) has experienced a significant surge, with its price rising for eight consecutive days. This upward trend is largely attributed to increased trading volume and the entry of smart money investors into the market.

Market Performance

As of December 6, the AERO price reached a high of $1.9446, its highest level since April 24. The decentralized exchange network has processed coins worth $7 billion in the past 30 days, with a 24-hour trading volume of $1.46 billion. Its cumulative volume stands at $81.18 billion, positioning Aerodrome as the leading DEX protocol on the Base Blockchain.

The platform’s weekly volume surpasses that of Base versions of Uniswap and PancakeSwap. Additionally, Aerodrome Finance has seen its total value locked (TVL) increase in recent weeks, with its TVL currently exceeding $1.64 billion. This growth in TVL ranks the platform among the top players in decentralized finance.

Strong Fees and Investor Interest

The network is also generating strong fees, with its Slipstream product generating a record $950,000 in fees. This trend is expected to continue, with concentrated liquidity swap fees growing consistently.

Yesterday, Dec 4th, Slipstream set a new record, generating ~$950K in fees. Concentrated liquidity swap fees have grown consistently, enabling low slippage swaps for high volume assets.

Data from Nansen shows that 45 smart money wallets hold the token, marking an all-time high. These investors collectively own nearly 14 million tokens valued at $26.6 million, bolstering AERO‘s price gains.

Expanding Base Blockchain Ecosystem

The growing popularity of meme coins on the Base Blockchain, such as Brett, Keyboard Cat, Degen, and Toshi, has also contributed to AERO‘s traction. The combined market cap of these coins has reached $3.6 billion.

AERO Price Technical Analysis

The daily chart shows that AERO has been on a strong upward trend in recent months, breaking above the significant blue trendline connecting the highest swings since July 18. The token remains above the 50-day and 25-day Exponential Moving Averages, indicating that bulls are in control.

The Relative Strength Index has climbed to 71, suggesting continued momentum. Key levels to watch include:

  • $2.3727, its highest level in March, which is about 25% above the current level.
  • A move below the 25 EMA level at $1.50, which would invalidate the bullish view.

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