AERO Surges on Whale Accumulation and DEX Volume, Eyes $2
AERO, the native token of Aerodrome Finance, climbed over 450% from its April lows to a high of $1.49. The surge was driven by heavy whale accumulation and a DEX volume spike to $172 million in 24 hours. DeFi Llama data ranks Aerodrome as the fourth-largest decentralized exchange, processing $1.122 billion in daily transactions. Monthly network revenue rose 26% to $15.1 million, according to TokenTerminal. Nansen reports whales increased holdings by 1.5% to 13.27 million AERO while smart money added 22% more tokens. Exchange balances fell, signaling strong holder conviction. On the daily chart, AERO broke above an ascending channel and formed a golden cross, suggesting further upside. Traders now target the $2 resistance, a 45% gain from current levels.
Bullish
This news is bullish. Heavy whale accumulation reduces circulating supply and signals strong demand. The 24-hour DEX volume surge to $172 million and a 26% rise in monthly network revenue demonstrate growing adoption. Falling exchange balances confirm holders are not selling. Technically, the golden cross and breakout above the ascending channel are strong bullish indicators. Similar patterns in tokens like UNI followed whale buying and revenue spikes with sustained rallies. In the short term, AERO could test its $2 resistance. Long term, continued DEX support on platforms such as Coinbase and rising on-chain revenue could underpin further gains.