|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Aerodrome Finance (AERO) Price Prediction 2024-2025
Oct 28, 2024 at 06:30 pm
Aerodrome crypto [AERO] has seen massive growth thanks to the wild expansion of Base, an Ethereum [ETH] L2. Aerodrome is a strategic central liquidity
Aerodrome crypto [AERO] has seen massive growth thanks to the wild expansion of Base, an Ethereum [ETH] L2. Aerodrome is a strategic central liquidity provider in the Base ecosystem, operating as a decentralized exchange (DEX) and automatic market maker (AMM).
The L2’s growth has been a huge catalyst for the protocol. In 2024, Base’s TVL (total value locked) increased 6x (from $500 million to nearly $3 billion).
Over the same period, Aerodrome Finance’s TVL increased from $100 million to over $1.3 billion (13x). Its native token, AERO, has perhaps been the most notable beneficiary. On a year-on-year basis, AERO rallied +1200%. Given the expected extra growth for Base, should you include it in your watchlist?
AERO’s potential
Source: AEROUSD, TradingView
AERO logged over 140% recovery gains during the broader market rebound in September. However, it faced price rejection at $1.3 – $1.5 (red, supply zone).
However, the pullback was stopped at the short-term demand near $1.2, making it a crucial level to watch.
An extended uptrend to $1.5 could trigger a 36% recovery. A more aggressive push to $2 could log nearly 100% potential gains.
Key technical chart indicators showed enough room for growth since they were far from overbought conditions.
However, market uncertainty and volatility could erupt with US elections just a few days away. A breach below $1.2 could still offer a discounted bid at $0.8.
Weekend spot demand
Source: Coinglass
The latest 18% upswing over the weekend was primarily driven by spot demand, as seen by a spike in spot CVD (Cumulative Volume Delta).
The metric tracks the difference between buying and selling volume. The spike meant more buying volume, hence bullish sentiment.
However, interest in the Futures market tapered slightly, as shown by a nearly 1 million AERO drop in open interest (OI) rates. Should the decline extend, a move to $1.5 could be delayed.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- 5 Promising Altcoins That Could Bring Massive Upsides to Your Portfolio
- Oct 28, 2024 at 10:15 pm
- The crypto market is evolving fast, and holders are looking for the next big altcoins that could bring massive upsides. Here are five promising coins — Solana (SOL), XRP, POL (ex-MATIC), PEPE, and MTAUR (Minotaurus) — that might be worth adding to your portfolio.