Aerodrome Finance’s token has been on a strong bullish run, with its price reaching new highs on Thursday, June 19. The network activity and market share of Aerodrome Finance (AERO) have surged significantly, with the price hitting $0.9660, marking a 235% increase from its low point in April. This surge has propelled its fully diluted valuation to over $1.54 billion.
AERO’s breakout coincided with a rise in market share in the decentralized exchange sector. According to DeFi Llama data, Aerodrome is now the sixth-largest DEX by monthly volume, trailing only PancakeSwap, Uniswap, Raydium, Orca, and Pump. The protocol has processed over $14.86 billion in trading volume over the past 30 days.
On Base, the layer-2 network developed by Coinbase, Aerodrome continues to dominate. It has handled over $525 million in transactions, outperforming Uniswap’s $349 million on the same chain. This increase in activity has led to higher protocol revenue, with monthly fees rising to $19.7 million in May, up from $13.2 million the previous month. The protocol has generated over $10 million in revenue so far this month.
Aerodrome’s growth trajectory is expected to continue, especially following Coinbase’s announcement that it will support top DEX networks on Base within its platform. This integration could introduce Aerodrome to millions of new users across Coinbase’s mobile and web applications.
The AERO token has also seen a surge in futures open interest, reaching a record $52.9 million, up from a monthly low of $19 million. Rising open interest typically indicates growing demand and deeper liquidity.
In terms of technical analysis, the AERO token price has surged to its highest point since February, breaking above key resistance levels and forming an ascending triangle pattern. The price has moved above the 50-day Exponential Moving Average, with the Relative Strength Index pointing upwards and nearing the overbought level. This suggests that AERO is likely to maintain its uptrend, with potential targets at the 50% Fibonacci retracement level at $1.3170.
Overall, Aerodrome Finance’s token has shown strong bullish momentum, with increasing network activity and market share contributing to its price surge. With promising technical indicators and market developments, AERO is poised for further growth in the decentralized finance sector.