The token of Aerodrome Finance continued its strong bullish momentum on Thursday 19 June as network activity and market share increased.
Aerodrome Finance (AERO) price rose to a highlight of $ 0.9660, the highest swing since 4 February and 235% above the lowest point in April. This increase has brought its completely diluted appreciation to more than $ 1.54 billion.
Aero’s Breakout coincided with the rising market share in the decentralized exchange sector. Defi Lama facts Show that Aerodrome is now the sixth largest Dex due to the monthly volume, with only pancake wap, uniswap, raydium, orca and pump. The protocol has processed more than $ 14.86 billion in trade volume over the past 30 days.
Aerodrome continues to dominate on the basis of the Layer-2 network developed by Coinbase. It dealt with $ 525 million in transactions and performed better than the $ 349 million of Uniswap in the same chain. This peak in activity has translated into higher protocol income, with monthly costs rise Up to $ 19.7 million in May, an increase of $ 13.2 million a month earlier. So far it has earned more than $ 10 million this month.
Aerodrome’s growth process can continue, especially after the announcement of Coinbase that the TOP DEX networks will support on the base within its platform. Aerodrome can introduce this integration to millions of new users in Coinbase’s mobile and web applications.
In addition to a strong rise in the open interest rate of the futures, the Aero -Toks, which climbed to a record of $ 52.9 million, increased an increase in a monthly low of $ 19 million. Rising open interest usually means the growing demand and deeper liquidity.
Aero Price Technical Analysis
The Aero -token price rose to the highest point since February, as crypto.news predicted here. The price certainly moved above the resistance level of $ 0.8010 – which merge with the 23.6% Fibonacci racement, and also knew the upper limit of an increasing triangular pattern, a generally recognized continuation signal.
Aero Price has moved above the exponential advancing average of 50 days, while the relative strength index has been pointed out and the overbough level is approaching.
In view of these conditions, Aero will probably maintain his upward trend, whereby bulls focus on the 50% Fibonacci retracement level at $ 1,3170, about 41% above current levels. A drop back below the upper limit of the triangle would invalidate this bullish prospect.
