- Aerodrome has reached a new all-time high in total value locked (TVL) while its revenue continues to rise.
- AERO’s price has broken out of a symmetrical triangle pattern.
Aerodrome Finance [AERO] is gaining traction in the cryptocurrency market, standing among major competitors like Ethereum [ETH] and Uniswap [UNI].
Although currently experiencing a correction following its peak of $2.36, AERO’s underlying fundamentals imply that its price may increase. The token’s total value locked (TVL) has reached a record high of $869.73 million, along with a market cap of $524.3 million.
The trading volume in the past 24 hours is recorded at $30.22 million, with a fully diluted market cap of $1.069 billion. As TVL expands, this could stimulate wider adoption and potentially drive AERO’s price higher.
Source: DefiLlama
AERO revenue distribution
The distribution of AERO’s revenue plays a crucial role in its upward trajectory. A notable share of the revenue is allocated to token holders, placing AERO ahead of Ethereum and Solana regarding the proportion of value returning to holders.
This change underscores a novel approach to public, permissionless, and transparent token distribution, which imparts genuine, immutable on-chain utility.
Consequently, AERO becomes more aligned with tokens like Bitcoin and Ethereum rather than Uniswap. These fundamentals are vital for propelling AERO’s price higher.
Source: Messari
Will a recovery to $1.5 be forthcoming?
AERO price action looking promising…
The price movement of AERO has shown a bullish trend. The token has recently shifted above a symmetrical triangle pattern and is currently priced at $0.85, reflecting significant momentum.
The Moving Average Convergence Divergence (MACD) indicator is exhibiting a bullish signal, with momentum bars shifting green.
This signals that AERO may soon reclaim the $1 mark, and with favorable market conditions, it could even aim for a $1.5 target in the fourth quarter of 2024.
Source: TradingView
Orderbook liquidity delta
Another aspect reinforcing the potential for a higher AERO price is the positive orderbook liquidity delta chart. This metric shows that the volume of buy orders significantly outweighs that of sell orders.
While orderbook liquidity alone does not set the price, it enhances the overall confidence in AERO’s upward movement. This favorable liquidity atmosphere may further bolster AERO’s growth.
Source: Coinglass
AERO is set for expansion, with robust fundamentals, increasing TVL, and rising revenue for token holders.
The bullish price action, coupled with favorable orderbook liquidity, renders a recovery to the $1.5 price point a realistic prospect. As the market conditions improve, AERO’s price could continue to ascend.
