Aero Launch Spurts AERO Price by 26.4% Ahead of October 21 Debut
Aerodrome's token AERO saw a significant price surge in the past 24 hours following the announcement of its merged protocol, Aero, going live on October 21 across seven chains. The launch will cover Base, Ethereum mainnet, Optimism, Arc, and Ink, as well as adding Robinhood Chain and Arbitrum. As a result, Aerodrome and Velodrome tokens will be merged into a single Aero token.
The announcement sparked a 26.4% price move higher for AERO, with its 24-hour trading volume rising 224%. Open Interest climbed 56%, according to Coinalyze. The team behind Aero expects the launch to triple the current Ethereum Virtual Machine trading volume handled by Aerodrome and Velodrome.
A analysis of the chart suggests that AERO's price has already reached a level where longer-term holders may consider taking profits. The 100% Fibonacci Extension near $0.91 puts the extension just below the psychological $1 mark, which could attract selling pressure.