In a groundbreaking development for the cryptocurrency space, Coinbase has announced an initiative that will empower users to trade an extensive array of on-chain assets directly through the Coinbase app. This integration of decentralized exchange (DEX) trading aims to democratize access to the burgeoning realm of decentralized finance, or DeFi.

This recent announcement, made public just yesterday, underlines Coinbase’s commitment to simplifying the trading experience for its users. By merging the intuitive design of traditional platforms with the innovative capabilities of decentralized exchanges, Coinbase is poised to offer a seamless gateway to an expansive selection of tokens that many retail traders previously found difficult to access. The rollout is currently underway for users in the United States, with eventual expansion plans to other markets over the coming months.

The market response was swift and positive. Aerodrome Finance (AERO), identified as one of the key DEXs within the Base network, saw its value spike by over 28% within a day of the announcement. Investors are rallying around the anticipated influx of trading activities and liquidity as this integration unfolds. By adopting this approach, Coinbase is positioning itself at the forefront of the evolving on-chain economy, effectively bridging centralized exchange functionalities and decentralized markets for a global audience.

Coinbase’s Bold Move into Decentralized Trading

In its official report, Coinbase highlights its DEX trading feature, which is now rolling out to select customers in the United States. Notably, users from New York State are temporarily excluded due to regulatory considerations. Available options at launch encompass an expanding range of Base-native tokens from pioneering projects such as Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs.

Coinbase has carefully outlined its strategy for introducing new DEX assets, which will occur in incremental updates. Throughout the upcoming weeks, the platform plans to expand its listings significantly, ultimately aspiring to support a comprehensive array of assets on the Base network. Users are encouraged to frequently check the platform as new tokens are consistently being indexed.

With this upgrade, traders can now execute their transactions on renowned decentralized exchanges like Aerodrome and Uniswap directly from the Coinbase app, streamlining the trading process. By utilizing DEX aggregators, the system efficiently scans for liquidity across various leading decentralized exchanges, guaranteeing that trades are executed at the best available prices.

AERO Price Surge: A Technical Perspective Following Coinbase Integration

Aerodrome Finance (AERO) has witnessed a significant upward movement in its price, currently trading at approximately $1.05, with intraday peaks reaching up to $1.08. This impressive rise correlates closely with Coinbase’s announcement regarding DEX trading, which now provides direct access to Base-native assets such as AERO.

From a technical standpoint, AERO’s breakout above the critical $0.90-$0.95 resistance zone is seen as a positive development. The price has successfully surpassed all major moving averages, and the recent 50-day SMA crossing above the 200-day SMA creates a golden cross pattern, typically indicative of sustained bullish momentum. The trajectory of the 100-day SMA also appears to be on an upward path, further solidifying market optimism.

Current resistance levels hover around the $1.10 mark, a significant barrier from December’s consolidation phase. A successful breakout above this resistance could pave the way toward higher targets of $1.20 and potentially $1.35. Conversely, the $0.90 level has now become a key support area, followed by <$0.80 should a retracement take place.

Image sourced from Dall-E, chart from TradingView