The cryptocurrency market was dominated by bulls with the leading crypto Bitcoin’s run above $57,000. In addition, we are also witnessing explosive price movements. One of these was Aerodrome Finance’s native token, AERO. It rose over 135 percent after CB Ventures invested in Aerodrome Finance. Moreover, the altcoin still continues its flight.
The altcoin price that received investment exploded!
AERO, the native token of liquidity protocol Aerodrome Finance, surged more than 135% after a position was purchased by the Base Ecosystem Fund led by CB Ventures. The Base Ecosystem fund, led by CB Ventures, acquired an undisclosed position in AERO. Aerodrome Finance is the largest protocol on Base, with a market share of over 30 percent.
According to CoinMarketCap, AERO is currently trading above $0.23. The token began trading below $0.10 on Monday. However, the altcoin rose from $0.10 to around $0.23 in a short time. This means an increase of approximately 135 percent.
Aerodrome expressed its satisfaction with the investment
According to DefiLlama, Aerodrome is the largest protocol on the Base Blockchain with a market share of over 30% with a total value locked (TVL) of $132 million. Aerodrome said in a post: “The Base Ecosystem Fund, led by CB Ventures, was launched to invest in new generation on-chain projects built on Base. We are excited to announce that Base Ecosystem Fund has purchased the AERO position. We will build the future of Base together.” said.
The parties did not make a statement about the size of the investment. This investment follows a series of investments Base Ecosystem Fund made in Avantis, BSX, Onboard, OpenCover, Paragraph and Truflation in October. Base is a layer-2 network established by the leading cryptocurrency exchange Coinbase. cryptokoin.comAs you follow from , Base started operating in June. The network has since raised $420 million in TVL.
Bitcoin’s run has caused liquidations in short liquidations
Over the past 24 hours, Bitcoin has surged above $57,000 as spot Bitcoin ETF trading volume increased. Thus, it reached the highest level in recent years. The leading cryptocurrency has increased by over 10% in the last 24 hours.
The increase in prices over the past day has led to significant liquidation of short positions on central exchanges. According to CoinGlass data, this volatility resulted in the liquidation of more than $188 million in Bitcoin positions, the majority of which ($164.89 million) were short positions.
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