Aerodrome Finance (AERO), the native token of the largest liquidity protocol on the Base blockchain, skyrocketed over 140% on Tuesday.
Aerodrome Finance (AERO), the native token of the largest liquidity protocol on the Base blockchain, skyrocketed over 140% on Tuesday. This surge comes after the Base Ecosystem Fund, led by CB Ventures, acquired a position in AERO.
Aerodrome boasts a dominant 30% market share on the Base network, with over $132 million in total value locked (TVL) according to DeFiLlama. The protocol announced the investment via tweet, expressing excitement about collaborating with the Base Ecosystem Fund "to build the future of Base."
AERO's price surged from $0.097 to trade at $0.2538 currently, according to CoinMarketCap. The trading volume has spiked up by over 4000% to reach $48 million.
The Base Ecosystem Fund, launched in October, has previously invested in various projects like Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation. The size of their recent AERO acquisition remains undisclosed.
This investment reinforces Base's commitment to fostering its ecosystem's growth. Since its launch in June, the layer-2 network has accumulated $420 million in TVL, highlighting its potential within the crypto space. Aerodrome's token price surge reflects the community's anticipation of a promising future for both the protocol and the Base ecosystem.
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