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  • Aerodrome Finance locks 609K AERO tokens in strategic buyback

    Aerodrome Finance locks 609K AERO tokens in strategic buyback

    Aerodrome Finance locks 609K AERO tokens in a strategic buyback

    • The project confirmed acquiring and locking 609,000 tokens today.
    • Its total buyback for November surpasses 3 million AERO.
    • The altcoin’s performance mirrors broader market downsides.

    While uncertainty engulfed the overall crypto landscape, Aerodrome Finance has showcased its dedication to supporting and strengthening its native AERO.

    The project has taken it to X to announce a significant buyback of 609,000 AERO tokens.

    Meanwhile, this repurchase is part of Aerodrome’s programmatic strategy to react to fluctuating market conditions without compromising the altcoin’s tokenomics.

    Aerodrome has completed buybacks of more than 3 million AERO this month, reflecting the team’s commitment to boosting investor confidence and token stability. The official X post read:

    The Aerodrome Public Goods Fund has acquired and locked 609K AERO as part of its programmatic market-aware buyback, bringing total buybacks this month to 3M+.

    Notably, the project’s Public Goods Fund oversees AERO’s buybacks and has been monitoring the alt’s performance while strategically accumulating and locking native assets to reduce supply and potentially boost demand.

    Such an approach remains crucial to stabilize price actions and ensure investor confidence as digital assets see increased fluctuations.

    Inside Aerodrome’s buybacks, so far

    The latest purchase brings total buybacks for November to over 3 million AERO coins, reflecting a significant step toward strengthening the asset’s market status.

    Moreover, the Public Goods Fund has accumulated and locked over 150 million tokens since its debut, leveraging initiatives like Relay programs, Flight School, and the PGF itself.

    These programs aim to reduce supply pressure on AERO while rewarding loyal holders.

    The predictable supply reduction guarantees a resilient ecosystem even during heightened volatility.

    Market players often interpret such buybacks as an indicator of the team’s confidence in the project.

    Aerodrome hits fresh volume milestone

    The project followed the buyback announcement with another post reflecting impressive user activity.

    Notably, Aerodrome has topped $200 billion in trading volume this year – an approximately three-times increase year-to-date.

    Such a volume demonstrates Aerodrome’s rapid growth and increasing influence in the blockchain sector.

    With strategic buybacks and ecosystem initiatives, Aerodrome is establishing itself as a serious player within the DeFi space.

    Understanding Aerodrome Finance

    Aerodrome Finance is a decentralized exchange and automated market maker (AMM) that serves as the primary liquidity on Coinbase’s Base project.

    It facilitates streamlined token swaps by ensuring adequate liquidity.

    AERO price outlook

    Native AERO saw a brief rebound following the latest updates.

    The cryptocurrency is trading at $0.7070, with a slight 1.47% uptick on the daily chart.

    The surging trading volume reflects revived interest in the AMM.

    Nevertheless, AERO has underperformed in recent sessions as sellers dominated the crypto landscape.

    It lost nearly 25% of its value in the last 30 days.

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  • Aerodrome price surges 10% after Animoca Brands announces strategic investment

    Aerodrome price surges 10% after Animoca Brands announces strategic investment

    Aerodrome Finance Price

    • Aerodrome Finance price eyes breakout above $1.
    • This comes after Animoca Brands announced it market-acquired and staked AERO tokens.
    • Market sentiment and the institutional confidence may propel Aerodrome Finance price to $1.34.

    Aerodrome Finance (AERO) price is up amid bullish momentum.

    The token gained as web3 and gaming investor Animoca Brands makes a strategic investment, a move that helped AERO price extend 24-hours to over 10% and briefly surpass the $1 mark.

    The Animoca Brands’ backing of Aerodrome Finance adds to the growing institutional interest in the decentralized exchange project on Base.

    Animoca Brands acquires, stakes AERO

    Animoca Brands announced its acquisition of AERO tokens on October 28, noting it made purchases on the open market. The company then staked all of these tokens for veAERO, demonstrating long-term commitment to Aerodrome Finance.

    Buying and staking AERO aligns with Animoca’s mission to generate value in open networks and support innovative protocols.

    As noted in the post above, the company sees Aerodrome as a dominant player on Base. With more than 50% of the DEX total value locked (TVL) on the blockchain, Aerodrome has become the central liquidity hub for the ecosystem.

    “Aerodrome is a key component in the engine behind Base’s DeFi growth and Coinbase is making it seamless for its CEX users to trade tokens which have liquidity on DEXs such as Aerodrome thus driving more value to Aerodrome voters. With sustainable tokenomics for $AERO and the team’s ability to execute, Aerodrome has proven its standing as a key player in Base infrastructure,” Animoca Brands posted on X.

    The investment follows a pattern of institutional backing for Aerodrome, including previous acquisitions by entities like Coinbase Ventures and Wintermute Ventures.

    Alexander Cutler, CEO of Dromos Labs and a core contributor to Aerodrome, lauded Animoca’s move. He noted that AERO’s value is accessible only through open market participation and active involvement.

    Price outlook: AERO bulls eye breakout above $1

    At the time of writing, AERO is up nearly 2% on the day and has extended the uptick to 10% in the past 24 hours.

    Over the past week, AERO has climbed 26%. This sees it outperform the broader market gains and form an uptrend since touching lows of $0.70 on Oct. 17.

    Currently, price hovers in a key range near $0.99 as bulls aim for a decisive breakout above the $1 psychological level.

    AERO price chart by TradingView

    If AERO strengthens above $1, it would allow bulls to target the next hurdles around $1.2 and then $1.34.

    The RSI at 70 on the 4-hour chart nonetheless suggests gains will firmly push AERO into the overbought zone. However, the MACD points to strength for buyers as the signal line cuts above the zero line, suggesting bullish momentum.

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