Continuing its dominance as the primary protocol on Coinbase’s newly-launched Base network, Aerodrome Finance has been excelling in various decentralized finance (DeFi) metrics, outperforming its competitors.
As reported by DeFiLlama, Aerodrome’s trading and liquidity marketplace currently holds a total value locked (TVL) of $1.088 billion, a remarkable achievement surpassing the combined TVL of the five largest protocols on Base.
While Aerodrome’s recent performance stands out among leading DEX protocols on established networks, there is still potential for further growth to explore.
With a DEX volume of $9.02 billion in September, Aerodrome’s performance comparable to top DEXs on Solana during the same period, although it falls behind Uniswap and PancakeSwap, the primary DEX platforms on Ethereum and BNB Chain.
Continued Growth Momentum on Base Network
Aerodrome has experienced substantial growth this year, driven by its effective liquidity attraction strategies and the rising popularity of the Base network. Throughout September, the DEX protocol maintained its momentum, witnessing an 87.75% increase in TVL.
The remarkable feat of Aerodrome on Base is further evidenced by its 30-day fees, which significantly exceed those of its competitors. Observers anticipate Aerodrome to retain its leading position on the Base network as the DeFi landscape gains momentum.
Current DeFiLlama data places Base as the sixth chain with the highest TVL, closing in on Arbitrum in fifth place with a TVL of $2.348 billion.
Notably, among the top 10 chains by TVL, only SUI has shown a higher growth rate than Base’s 38% in the last month.
AERO Token Price Analysis
The success of Aerodrome in the DeFi sector has positively influenced the sentiment around its native token, supporting its price performance.
As of the latest update, AERO was priced at $1.03, showing a 4.58% decline on daily charts but an overall 85% increase in the past 30 days.
Recent price action saw AERO breaking out of the $0.49 to $1.02 consolidation zone towards the end of the previous week, marking a significant movement after ranging within this zone since July.
While attempting to establish support around $1.04, a level that previously acted as resistance in mid-July, the AERO/USD pair retraced back into this range.
Market speculators are eyeing the $1.30 price level as a short-term target, a price point that AERO has struggled to decisively surpass since May.