Decentralized exchange token Aerodrome Finance AERO/USD popped on Wednesday after being integrated into Coinbase Global Inc.’s COIN main application.
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AERO Jumps To A 7-Month High
AERO surged over 6% in the last 24 hours, jumping to levels last seen nearly seven months ago.
The token, based on Coinbase's Layer-2 blockchain Base, recorded a 24% jump in trading volume to $210 million.
AERO's 24-hour returns surpassed that of market heavyweights like Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD. The coin has pumped nearly 80% in a week.
See Also: Bitcoin Sets New All-Time High At $124,000 As Record-Breaking Surge Continues
Coinbase’s DEX Rollout Drives Momentum
The spike came after Coinbase rolled out DEX trading for its users, with Base-native Aerodrome becoming a direct beneficiary.
The launch, which begins with select users in the U.S., could open up a plethora of assets for millions of Coinbase consumers, in addition to the 300 or so currently available.
Price Action: At the time of writing, AERO was exchanging hands at $1.35, up 6.10% in the last 24 hours, according to data from Benzinga Pro.
Coinbase shares rose 1.20% in after-hours trading after closing 1.39% higher at $327.10 during Wednesday’s regular trading session.
As of this writing, COIN ranked high on growth, an indicator of a stock's combined historical expansion in earnings and revenue across multiple periods. Visit Benzinga Edge Stock Rankings to see how it compares to other cryptocurrency-linked stocks
Photo: oekka.k on Shutterstock.com
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