Aerodrome Finance’s AERO token surged approximately 12.68%, ranking third among the top 100 cryptocurrencies by market capitalization for daily gains. The rally occurred as Bitcoin broke past $70,000, lifting the broader market. On-chain data indicates significant capital inflows from smart money, institutions, and retail buyers, contributing to a bullish outlook across both spot and futures markets for the token.
The Aerodrome Finance [AERO] token rallied about 12.68% amid a broader market upturn led by Bitcoin. Despite the price gain, its 24-hour trading volume remained relatively low at approximately $18 million according to CoinMarketCap.
On a 3-hour timeframe, AERO has been trading within a rising trend channel since early February. The token recently broke above the channel’s middle level, with technical indicators like the MACD showing green, increasing bars to reinforce buyer strength.
The Correlation Coefficient for AERO against Bitcoin strengthened significantly to 0.84. This high correlation suggests the altcoin’s price movement is closely tied to BTC’s performance above the $70,000 level.
If bullish momentum continues, AERO could target a breakout above the channel’s upper resistance near $0.40. Conversely, failure to hold above the $0.35 to $0.36 mid-level could see the token retrace toward $0.32.
Capital inflows recorded on-chain contributed to the bullish sentiment. Smart money was actively buying Base Chain tokens, with AERO leading this lot for the last 30 days with about $837.2K as per data from Nansen AI.
Other significant inflows included TIBBIR and Virtual Protocol [VIRTUAL] at approximately $574,000 and $359,000, respectively. Retail activity was also noted, such as a CLANKER holder purchasing over $1,000 worth of AERO.
Institutional activity further supported the positive outlook. After Hypersphere Capital withdrew 2.5 million AERO worth $837,000 from Bybit, the token became its fifth-largest holding.
This aggregate buying pressure flipped the Cumulative Volume Delta to buyer-dominated on both spot and futures markets according to CryptoQuant. Other major holdings in Hypersphere’s portfolio included USDC, Hyperliquid [HYPE], Worldcoin [WLD], and Maple Finance [SYRUP].
