- September marked a record-breaking month for the Aerodrome ecosystem
- The AERO price has risen by over 80% in the past 30 days
Aerodrome Finance has solidified its status as the leading protocol on Coinbase’s newly introduced Base network. In this process, it has surpassed its competitors in multiple significant decentralized finance (DeFi) metrics.
Currently, its trading and liquidity marketplace showcases a total value locked (TVL) of $1.088 billion, as reported by DeFiLlama. Remarkably, Aerodrome’s TVL is nearly double that of the next five largest protocols on Base combined.
When compared with other leading DEX protocols on established networks, Aerodrome’s recent achievements are commendable, although there is still potential for growth.
The DEX volume for Aerodrome reached $9.02 billion in September, which is comparable to top decentralized exchanges on Solana for the same timeframe. However, it still falls behind Uniswap and PancakeSwap, which are the predominant DEXs on Ethereum and BNB Chain, respectively.
Continued growth on Base network
This year, Aerodrome has experienced significant growth, driven by its ability to attract liquidity through incentive mechanisms and the growing acceptance of the Base network. In September, the DEX protocol witnessed its TVL increase by 87.75% for the month.
Source: DeFiLlama
Aerodrome’s dominance on Base is further emphasized by its 30-day fees, which significantly surpass those of its competitors. Indeed, some market analysts predict that Aerodrome will maintain its leading position within the Base network as the DeFi sector regains traction.
As of the current moment, DeFiLlama data indicates that Base is positioned sixth among chains with the highest TVL, nearing the fifth position held by Arbitrum, which has a TVL of $2.348 billion.
Source: DeFiLlama
It is noteworthy that among the top ten chains ranked by TVL, only SUI has reported higher TVL growth than Base’s 38% in the last month.
AERO price forecast
Aerodrome’s success in the DeFi space has fostered a positive outlook for its native token, enhancing its price stability.
As of the latest update, AERO was trading at $1.03, reflecting a 4.58% decrease on the daily chart but an 85% increase over the last 30 days.
On the daily chart, AERO appeared to break out of the $0.49 to $1.02 consolidation range towards the end of last week—a range it had maintained since July.
Source: TradingView
The AERO/USD pair attempted unsuccessfully to establish support around $1.04, a level that had acted as resistance back in mid-July. However, it has since reverted back into this range.
Speculators remain focused on the $1.30 price point as a short-term target, a level that AERO has struggled to reclaim convincingly since May.
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