NewsletterCoinbase Ventures Buys 4.7 Million Tokens Of This Project: Nansen
Highlights
- Coinbase Ventures continues to purchase Aerodrome Finance (AERO) tokens through different wallet address.
- Nansen data revealed that Coinbase Ventures accumulated more than 4.7 million AERO tokens worth $2.7 million.
- Aerodrome Finance (AERO) price gained over 15% in a week.
Coinbase Ventures, the investment arm of crypto exchange Coinbase, has continued to purchase massive amounts of Aerodrome Finance (AERO) tokens since Aerodrome revealed that the investment firm bought AERO tokens on the market, as per Nansen.
Coinbase Ventures Continues to Accumulate AERO Tokens
Crypto analytics platform Nansen disclosed that Coinbase Ventures hasn’t stopped buying Aerodrome Finance (AERO) tokens. The company has accumulated more than 4.7 million AERO tokens worth $2.7 million, as per on-chain data of transfers from the Coinbase Venture address.
Large entities like crypto firms use individual TradingVaults to build positions in tokens. In July start, Coinbase Ventures also used TradingVault to further add 1.5 million AERO tokens to its holding. “All the tokens Coinbase Ventures have acquired are locked up within the wider Aerodrome Finance ecosystem, said Nansen.
Aerodrome previously revealed that the Base Ecosystem Fund led by Coinbase Ventures market acquired AERO tokens. The fund invests in the next generation of on-chain projects built on the Base chain.
Also Read: Fed Rate Cuts — Gov Lisa Cook Eyes Soft Landing, Bitcoin To Rally After CPI Today?
AERO Price Performance
Aerodrome recently reported that it hit $1 billion in cumulative volume within 7 months and skyrocketed to $15 billion in three months after Slipstream pools were deployed.
Aerodrome Finance (AERO) price gained over 500% after Coinbase Ventures acquired AERO tokens. In the last 24 hours, the price has dropped 1% after a 15% rally in a week. The 24-hour low and high are $0.603 and $0.631, respectively.
Furthermore, trading volume has also dropped by 12% in the past 24 hours, indicating a decline in interest among traders. A breakout above the $0.65 resistance level to likely trigger a further rally.
Also Read:
- 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?
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