Coinbase Ventures, the investment arm of Coinbase, the largest cryptocurrency exchange in the USA, is investing in Aerodrome Finance (AERO).
According to data from crypto analysis platform Nansen, Coinbase Ventures secretly purchased AERO after Aerodrome, which had previously announced that it had purchased its own altcoin AERO from the market.
In total, Coinbase purchased at least more than 4.7 million AEROs (worth $2.7 million), according to Coinbase Ventures wallet address information found by Nansen.
“Since Aerodrome Finance announced that it had market-acquired AERO tokens, we uncovered the Coinbase Venture Address that made the purchase.
And guess what? Coinbase continued to buy Venturs.
In total, they purchased at least more than 4.7 million AERO ($2.7 million).
“All tokens purchased by Coinbase Ventures are locked within the broader Aerodrome Finance ecosystem.”
Aerodrome Finance previously announced that the Base Ecosystem Fund, led by the Coinbase Ventures marketplace, had purchased AERO tokens.
Aerodrome Finance (AERO) price increased by over 500% after Coinbase Ventures purchased AERO tokens. AERO, which had an 18% increase in the last week, experienced a 1% decrease in the last 24 hours.
*This is not investment advice.