Bitfarms stock jumps 26% after buyback plan: Is more to come?
- A whale spent $1.3 million USDC to acquire 1.57 million AERO via 1inch and Odos routers.
- Resistance looms above $0.914 as out-of-the-money holders could sell to break even, capping short-term upside.
A whale recently purchased 1.579 million Aerodome Finance [AERO] tokens for an average price of 0.823 at the cost of 1.3 million USDC as per Onchain Lens data.
The whale used 1inch and Odos aggregators to carry out three transactions in batches: 469.93K, 600.06K, and 509.48K AERO—each swapped against $400K, $505K, and $394K in USDC, respectively.
Naturally, this concentrated accumulation hinted at strategic positioning near a key support—possibly anticipating a breakout.
Given AERO’s Base-native narrative and ecosystem momentum, this play wasn’t without context.
Source: Onchain Lens
99% dominance isn’t a coincidence
Meanwhile, there was an apparent divide of strengths between Base and Aerodrome, with developers constructing on a scalable layer-2 infrastructure that Base provided and leading to launches of tokens via Aerodrome.
Tokens like Giza [GIZA], Venice Token [VVV], Keeta [KTA], and KAITO [KAITO] saw 99%, 95%, 85%, and 81% volume dominance, respectively, over the last 24 hours.
With Aerodrome as the liquidity hub and Base as the scalable engine, new token launches have found a sticky landing ground. AERO has increasingly become central to this launch dynamic.
Can AERO reclaim $1?
Technically, since early April, AERO has been moving upwards in the ascending trend channel, generating successive higher lows and higher highs.
The price reached $0.822, which was slightly below the essential psychological resistance at $1.
A mid-June rally tagged the upper band near $0.95 before cooling. Of course, reclaiming the $1 mark could open the path toward the historical supply wall near $1.5.
Source: TradingView
However, if rejected again, the channel’s lower bound around $0.60 might act as the fallback zone.
70% holders in profit but…
Worth noting, the In/Out of money chart of AERO meant that the majority of the holders were in profit, bought below the $0.779 price level.
The majority represented 70.59 % of the holders who were in profit, which was about 1.18B AERO tokens.
On top of that, nearly 15% of supply (248.11 million AERO) was Out of the Money between $0.914 and $2.21. Any surge past $0.914 could attract sell pressure from break-even chasers.
Source: IntoTheBlock
With the analysis, AERO could experience resistance after rising to above $0.914 or higher, as the holders who are out-of-the-money could decide to sell their holdings to break even.
Nevertheless, there was solid support at $0.779, where the majority of the holders were at break-even. This could decrease selling pressure and promote an upwards trend should the demand continue to accrue.
