Aerodrome Finance (AERO) became the top-performing token in the top 100 today, rising 24% to near $1.10. The token has gained almost 45% over the past week. The move followed the announcement that Coinbase integrated Aerodrome into its platform for Base network assets, giving over 100 million Coinbase users direct access to every token listed on Aerodrome.
Expanded access for Base network tokens
Through the integration, Coinbase customers in eligible regions can trade Base-native tokens without waiting for a centralized listing. The system connects Coinbase balances to Aerodrome’s decentralized exchange infrastructure, effectively allowing instant access to new tokens launched on the Base network. Coinbase will also cover network fees for these trades and provide an in-app self-custody wallet.
Aerodrome is currently the largest decentralized exchange on Base, with over $550 million in total value locked. The link to Coinbase’s user base will likely increase trading volumes and liquidity for projects launching on the network, while giving developers a direct route to millions of potential traders.
Read also: Ethereum Nears $4,000 as Network Activity Reaches Record High
Technical Situation
Following the announcement, Aerodrome’s trading volume increased 319% to $277 million, while market capitalization grew 24% to $966 million. On-chain data showed a return of large whale spot orders after a quiet July, alongside two consecutive days of negative netflow – meaning more tokens left exchanges than entered.
That said, momentum indicators show overbought conditions, with the Stochastic RSI at 99 and the regular RSI at 71. Moreover, the majority of traders’ positions are now short.
