Coinbase Just Made AERO Soaring: Is This the Start of a Crypto Comedy? 😂💰

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  • 72.79% of Aerodrome Finance (AERO) holders are now “in the money.” 💸
  • Open Interest hit a new ATH of $55 million, with Funding Rates negative and 56% of positions shorting AERO. 📉

Well, well, well! Over the past day, Aerodrome Finance [AERO] decided to throw a party and hit a one-month high. 🎉

Since successfully defending the $0.5 support like a superhero, this altcoin has been trading within an ascending channel, reaching a local high of $0.78. Talk about a glow-up! 💪

At press time, AERO is priced at approximately $0.74, having increased by 22.34% over the last 24 hours. Naturally, this uptick didn’t just push the price up—it reignited interest across the board like a bad rom-com! 💖

Trading volume soared 35.3% to $389 million, signaling renewed market engagement. It’s like everyone suddenly remembered they had a date with crypto! 📈

Holders finally breathe again

According to IntoTheBlock data, at press time, 72.79% of AERO holders—about 1.21 billion tokens worth $921 million—were “in the money.” That’s a lot of happy wallets! 🤑

Only 21.41% or 357.11 million AERO remained “out of the money,” showing that the majority of addresses have benefited from the price surge. It’s like a financial buffet, and everyone’s feasting! 🍽️

So what exactly triggered this rally? Spoiler alert: it’s not a new diet fad! 🍩

One word: Coinbase

According to AMBCrypto’s observation, speculative traders entered the market following Aerodrome’s announcement of a partnership with Coinbase. It’s like they found the secret sauce! 🍔

Aerodrome will be integrating DEXes from the base directly into the main Coinbase app. This means Coinbase users will access and trade millions of assets on-chain. It’s like giving them the keys to the crypto kingdom! 👑

Such development was viewed by many users as bullish, thus some investors entered the market to scoop up Aerodrome. It’s a crypto gold rush, folks! 🏃‍♂️💨

The surge in buying activity was evident in the Buy Volume, which spiked to 36 million AERO, as shown by Coinalyze data. It’s like a flash sale, and everyone’s grabbing their carts! 🛒

Profit-taking has begun

According to AMBCrypto’s analysis, although AERO surged over the past week, not every participant is convinced of a sustained rally. Some are cashing in their chips like it’s Vegas! 🎰

Many investors and holders have taken these gains as an opportunity to take profit. It’s like they found a coupon for free money! 💵

Over the past three days, AERO has consecutively recorded positive netflows, suggesting that exchanges have seen more inflows than outflows. It’s like a party where everyone wants to get in but no one wants to leave! 🎉

This implies that as prices continued to rise, more holders also turned to profit-realization. Often, a higher exchange inflow leads to oversupply, causing downward pressure on prices. It’s like too many cooks in the kitchen! 👩‍🍳

Besides exchange activities, investors in Futures markets are mostly bearish and are betting on prices to drop. It’s like they’re wearing raincoats at a sunny picnic! ☔

In derivatives markets, sentiment leaned bearish. AERO’s Open Interest surged 64.2% to hit an all-time high of $55 million, reflecting increased futures participation. But here’s the twist—most of that interest is skewed short. Plot twist! 📉

Moving forward, the Funding Rates indicated that most of these entering Futures contracts were going short, at 56%. When the Funding Rate is negative and supported by short position dominance, it reflects strong bearish sentiments. It’s like a storm cloud over a sunny day! ⛈️

Will $0.70 hold the line?

Simply put, although Aerodrome has surged recently, it seems the rally is speculative and could be short-lived. If it turns out so and these sentiments persist, we could see a pullback to $0.67. It’s like a rollercoaster ride—hold on tight! 🎢

However, if the good news brings more investors and rising demand, while profit-taking behavior cools down, AERO will close above $0.7. A daily close above here will keep the bullish momentum alive, and we could see a bounce to $0.80. Fingers crossed! 🤞

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2025-06-14 14:21