Aerodrome Finance (AERO) has received a significant investment from Coinbase Ventures, the investment division of Coinbase, the most prominent cryptocurrency exchange in the United States.
According to data from Nansen, a crypto research tool, Coinbase Ventures bought AERO tokens in secret after Aerodrome Finance announced that it was buying them on the market.
According to Nansen, the wallet address of Coinbase Ventures revealed that the business had purchased more than 4.7 million AERO tokens, which had a value of around $2.7 million.
Additionally, the wallet address that is associated with Coinbase Ventures has verified continued investments, which are now a part of the larger ecosystem that is Aerodrome Finance. All of the tokens that Coinbase Ventures acquires are bound to stay inside this ecosystem.
Coinbase Ventures’ clever move caused the value of AERO tokens to skyrocket—by more than 500% indeed. Even though the token has seen a rise of 18% over the course of the previous week, it has witnessed a little decrease of 1% in the past twenty-four hours.
Additionally, this investment is connected to the Base Ecosystem Fund, which is administered by the Coinbase Ventures marketplace. This fund has previously bought AERO tokens.
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