Base Ecosystem Fund investment causes AERO to experience a significant surge.
AERO, the native token of Aerodrome Finance, experienced a remarkable surge of 152% on Tuesday following the acquisition of a position by the Base Ecosystem Fund. Aerodrome Finance is widely recognized as the leading liquidity protocol on the Base blockchain, boasting a market share of over 30%. With a total value locked (TVL) of $134 million, as reported by DefiLlama, Aerodrome’s prominence in the blockchain ecosystem is indisputable.
The Base blockchain, which was established by Coinbase as a layer-2 network, has gained significant attention and growth since its inception in June, accumulating a TVL of $420 million.
The public announcement of the Base Ecosystem Fund’s involvement in Aerodrome Finance was made through a tweet from Aerodrome itself. The tweet expressed excitement about the partnership and the shared vision for the future development of the Base ecosystem.
Subsequent to the announcement, AERO experienced an immediate and substantial increase in its market price. According to CoinMarketCap, it traded over 26 cents, starting from below 10 cents on Monday. This price movement indicates a positive market response to the investment and highlights the potential that investors see in Aerodrome’s role on the Base blockchain.
Furthermore, Base’s investment in AERO aligns with its broader strategy of supporting emerging projects in the blockchain space. Prior to this investment, the fund had already provided support to various projects in October, including Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation.
