Coinbase Ventures Makes Significant Crypto Investment
12.07.2024 8:00 1 min. read Alexander Stefanov
Coinbase Ventures, the investment branch of Coinbase, the largest cryptocurrency exchange in the U.S., has made a notable investment in Aerodrome Finance (AERO).
Data from Nansen, a crypto analysis platform, revealed that Coinbase Ventures quietly acquired AERO tokens after Aerodrome Finance had announced its own market purchase of the tokens.
According to Nansen, Coinbase Ventures’ wallet address showed that the company bought over 4.7 million AERO tokens, worth approximately $2.7 million.
The wallet address tied to Coinbase Ventures confirmed ongoing investments, which are now part of the broader Aerodrome Finance ecosystem. All tokens purchased by Coinbase Ventures remain within this ecosystem.
This strategic move by Coinbase Ventures significantly boosted the value of AERO tokens, which saw a rise of over 500%. Despite an 18% increase over the past week, the token experienced a minor 1% decline in the last 24 hours.
This investment is also associated with the Base Ecosystem Fund, managed by the Coinbase Ventures marketplace, which had previously acquired AERO tokens.
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