- Base Ecosystem Fund, led by Coinbase Ventures, has acquired an unspecified number of AERO tokens.
- This is a strategic investment to support the development of the Base ecosystem, the project team said.
- The token responded with a significant increase, with its price almost doubling.
The Aerodrome Finance project team announced that the Base Ecosystem Fund, led by the venture capital arm of the Coinbase exchange, acquired a portion of AERO tokens. The exchange rate of the asset jumped by 97.7%.
The Base Ecosystem Fund, led by @cbventures, was launched to invest in the next generation of onchain projects building on @base.
We’re excited to announce that the Base Ecosystem Fund has market acquired a $AERO position. Together we’ll build the future of @base. pic.twitter.com/9b01vw28tg
- Aerodrome (@aerodromeefi) February 26, 2024
Note that Aerodrome Finance is the largest protocol in the Base network with $132.61 million in blocked assets (TVL) – more than 30% of all capital in the ecosystem, according to DeFiLlama.
“We are pleased to announce that Base Ecosystem Fund has acquired AERO’s market position. Together, we will build the future of Base,” the publication said.
The publication does not specify exactly how many tokens the fund has acquired. According to Base Explorer, there are a total of 15,702 AERO holders. At the same time, only five addresses control a share of more than 1%.
Amid the news, the Aerodrome (AERO) token exchange rate rose 97.7%, according to TradingView. At the time of writing, it is trading at $0.21. Meanwhile, last week, from February 19 to February 25, the rate was around $0.12:
Earlier we reported that the frontend of Aerodrome and Velodrome exchanges were hacked.
