Key Takeaways
Why is Aerodrome rallying again?
AERO gained 10% after Base tokens surged and Open Interest climbed to $10 million.
What’s next for AERO traders?
Holding above $1.20 could trigger a retest of $1.58, the season’s key resistance zone.
Aerodrome Finance [AERO] spiked by more than 10% in the past 24 hours, reclaiming the $1 mark. Its weekly gains stood near 44% after a brief pause in the ongoing uptrend.
The rise followed strong momentum across Base ecosystem tokens, including Uniswap [UNI], Virtual Protocol [VIRTUAL], and Keeta [KTA]. The gains aligned with Coinbase’s preparation to launch its own platform, where Aerodrome could serve as a key liquidity layer.
Analyzing AERO’s breakout
The price action charts showed that AERO was moving in a series of higher highs and lows. The price movement exceeded the upper resistance level of $1.20 but quickly fell back into the consolidation phase.
The MACD was green, and its moving averages were pointing to the upside while above the neutral zone. Furthermore, Open Interest (OI) rose from a low of $6.96 million to a reading of $10 million.
Source: TradingView
November has been bullish for AERO, recovering all capital lost on the 10th of October. The token still trades below late-August levels, but maintaining momentum above $1.20 could open a path to $1.58 — the altcoin’s seasonal high.
Holder activity hits a new monthly peak
AERO’s on-chain data showed growth in long-term participation. The number of holders rose from 670.56K on the 12th of October to 682.26K on the previous day.
Source: CoinMarketCap
In terms of holder distribution, about 60% was held by the top 10 holders, while others held the remaining 40%.
However, the largest individual holders held about 1.78%, representing about 31.74 million AERO with a value of $37 million.
Fundamental triggers
The network activity also played a key role.
For instance, the number of Daily Active Users was rising, reaching 51.6K when writing, as per data from Token Terminal. The number of Active Addresses was less, trading in the region of 7.7K.
The number of Trade Counts reached a new high since 2023. This value hit a 3-year high of 166.7 million, while the daily Trade Count hit 5.2 million.
Source: Token Terminal
In the meantime, the Total Value Locked (TVL) on Aerostrategy was at $697,585, while the entire TVL clocked in at $472 million as per Dune Analytics. The cumulative volume hit $317 billion.
Aerostrategy is channeling trading volume into veAERO, increasing the token’s burn rate and tightening circulating supply. If demand continues to rise, this deflationary dynamic could support further upside for AERO.
