Aerodrome Finance’s native token AERO has emerged as today’s top gainer, securing a 5% jump as broader crypto market activity stalls. 

On-chain data reveals that demand for the token has climbed, signaling heightened participation from both spot buyers and derivatives traders. This suggests the token could extend its gains over the next few trading sessions. But, how high can AERO go?

AERO Rally Gains Conviction With Volume Spike and Record Open Interest

AERO’s 5% price uptick has been accompanied by a notable rise in its daily trading volume. This has exceeded $261 million after climbing by more than 552% in the past 24 hours.

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When an asset’s price and trading volume surge simultaneously, it signals that the rally is backed by strong conviction rather than short-term speculation.

The high volume indicates that a larger number of participants are actively trading the token, validating AERO’s upward price movement and reducing the likelihood of sudden pullbacks.

Beyond spot markets, AERO’s futures open interest has also soared to an all-time high, highlighting an influx of activity from derivatives traders. Per Coinglass data, open interest currently sits at $123 million, marking a 21% increase over the past 24 hours.

Open interest refers to the total number of outstanding futures or options contracts that have not yet been settled. When open interest rises alongside price gains, it signals that new money is flowing into the market, reflecting trader confidence in the trend’s sustainability. 

A surge in OI also points to heightened speculation and liquidity in the derivatives market, which can amplify price momentum in either direction depending on sentiment.

For AERO, the simultaneous uptick in both price and open interest suggests that traders are not passively holding positions but actively building exposure in anticipation of further upside. This bullish trend could propel its price to new highs over the next few trading sessions. 

AERO Bulls Eye $1.30 Breakout, But $1.06 Support Remains Critical

With demand intensifying in both spot and futures markets, AERO appears well-placed to extend its current momentum. If buy-side demand grows, the token could break into the $1.30 price region and attempt to stabilize above it. 

In this scenario, AERO could breach the resistance at $1.3066 and move toward $1.5486, depending on a sustained accumulation pattern.

However, if profit-taking resumes, AERO could fall to $1.0674.

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