AERO Price Steady as Smart Money Accumulates, Nansen Data Shows
The Aerodrome Finance token has been on a remarkable eight-consecutive day rally, with trading volume increasing and smart money investors entering the market. As we dive into the latest data and market trends, it becomes clear that AERO is poised for further growth.
Market Volumes and Trading Activity
The decentralized exchange network processed coins worth $7 billion in the past 30 days, with a 24-hour trading volume of $1.46 billion and cumulative volume standing at $81.18 billion. This positions Aerodrome as the leading DEX protocol on the Base Blockchain, surpassing the Base versions of Uniswap and PancakeSwap in weekly volume.
Total Value Locked (TVL) and Fees
Aerodrome Finance has seen its TVL increase in recent weeks, exceeding $1.64 billion and ranking it among the top players in decentralized finance. The network is also seeing strong fees, with Slipstream generating a record $950,000 in fees on December 4.
Smart Money Investors
According to Nansen, 45 smart money wallets hold the AERO token, marking an all-time high. These investors collectively own nearly 14 million tokens valued at $26.6 million. This influx of smart money investment bolsters the AERO price gains.
Base Blockchain Ecosystem
AERO’s price gains are also driven by the expanding Base Blockchain ecosystem. Meme coins on Base, such as Brett, Keyboard Cat, Degen, and Toshi, have surged in popularity, with their combined market cap reaching $3.6 billion.
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 invalidated the rising wedge pattern. AERO 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.
Predictions and Key Takeaways
Based on the analysis, we can conclude that AERO is poised for further growth. The influx of smart money investment, strong market volumes, and increasing TVL and fees all contribute to a bullish outlook for the token.
Key Takeaways:
- Smart money investors are backing AERO: With 45 smart money wallets holding the token, marking an all-time high, AERO’s price gains are bolstered by the collective ownership of nearly 14 million tokens valued at $26.6 million.
- Base Blockchain ecosystem expansion: The growing popularity of meme coins on Base, such as Brett, Keyboard Cat, Degen, and Toshi, with a combined market cap of $3.6 billion, drives AERO’s price gains.
- Technical analysis: AERO remains above the 50-day and 25-day Exponential Moving Averages, indicating that bulls are in control, and the Relative Strength Index has climbed to 71, suggesting continued momentum.
Predictions:
- AERO price to reach $2.3727: With the current momentum and technical analysis, we predict that AERO’s price will reach $2.3727, its highest level in March, which is about 25% above the current level.
- Increased trading volume: As AERO’s price continues to rise, we expect increased trading volume, which will further drive the token’s growth.
- Further smart money investment: With the influx of smart money investors, we predict that more investors will enter the market, driving AERO’s price even higher.
In conclusion, AERO’s price is steady as smart money accumulates, with Nansen data showing a significant increase in smart money investors holding the token. The expanding Base Blockchain ecosystem and strong market volumes also contribute to a bullish outlook for the token.
