The investment arm of crypto exchange Coinbase, Coinbase Ventures, has continued to acquire substantial quantities of Aerodrome Finance (AERO) tokens since Aerodrome disclosed that the investment firm had acquired AERO tokens on the market, according to Nansen.
Nansen, a crypto analytics platform, has disclosed that Coinbase Ventures has not ceased purchasing Aerodrome Finance (AERO) tokens. According to on-chain transfer data from the Coinbase Venture address, the company has amassed over 4.7 million AERO tokens, valued at $2.7 million.
Individual TradingVaults are employed by substantial entities, such as crypto firms, to establish token positions. Coinbase Ventures also utilized TradingVault to augment its holding of 1.5 million AERO tokens at the beginning of July. “All of the tokens that Coinbase Ventures has acquired are securely stored within the broader Aerodrome Finance ecosystem,” stated Nansen.
Aerodrome previously disclosed that the Base Ecosystem Fund, managed by Coinbase Ventures, acquired AERO tokens. The fund invests in the next iteration of on-chain projects that are constructed on the Base chain.
Aerodrome recently disclosed that it achieved $1 billion in cumulative volume within seven months and experienced a significant increase to $15 billion within three months of the deployment of Slipstream pools.
The price of Aerodrome Finance (AERO) increased by more than 500% following the acquisition of AERO tokens by Coinbase Ventures. The price has decreased by 1% in the past 24 hours, following a 15% increase in the previous week. The 24-hour low and high are $0.603 and $0.631, respectively.
