Aerodrome [AERO] registered a 16% price increase over a 24-hour period, adding to an 84% gain over the past 180 days. Despite the short-term gains, the asset remains 73% below its all-time high of $2.40.
The recent price surge has been supported by growth in Total Value Locked (TVL) and decentralized exchange (DEX) volume. According to DeFiLlama data, TVL rose from $306.72 million to $337.73 million, reflecting an influx of capital as investors deposit funds. Concurrently, protocol trading volume climbed by nearly 50%, adding $215.04 million to rise from approximately $305.79 million to $520.83 million since August 5th.
Despite the positive short-term metrics, fundamental concerns remain regarding the protocol's earnings. Financial data from DeFiLlama indicates that protocol earnings—calculated as Gross Profit minus Incentives—fell to a negative $8.15 million, marking a significant quarterly loss. Additionally, Token Holder Net Income for Q3 reached $10.16 million, representing a notable low compared to previous periods.
Spot market indicators also point to potential selling pressure. Spot Netflow data from CoinGlass turned positive over a 48-hour period, indicating that exchange inflows exceeded outflows with a netflow of $544,220. Market analysts note that such inflows can increase the risk of downward pressure if distribution trends persist.
