Aerodrome Finance continues to solidify its position as the leading protocol on Coinbase’s newly launched Base network, outperforming its peers in several key DeFi (DeFi) metrics.

In fact, Aerodrome’s trading and liquidity marketplace currently has a total value locked (TVL) of $1.088 billion, according to DeFiLlama. What’s more interesting is that Aerodrome’s TVL is nearly double the total value locked of the next five largest protocols on Base combined.

Compared to other top DEX protocols on established networks, Aerodrome's recent performance is impressive, but there is still room for growth.

Its DEX volume reached $9.02 billion in September, on par with the top decentralized exchanges on Solana over the same period. However, it still lags behind Uniswap and PancakeSwap, the top two DEXs on Ethereum and BNB Chain.

See more: AltSeason Warning: ETH Rising Strongly, Last Chance Before Altcoin Wave?

Sustainable Development on Base Network

Aerodrome has seen strong growth this year, thanks to its ability to attract liquidity through incentive mechanisms and the growing adoption of the Base network. The DEX protocol maintained an impressive performance in September, with TVL increasing by 87.75% for the month.

Source: DeFiLlama

Aerodrome's dominance over Base is further underscored by its 30-day fees, which far outpace its competitors. In fact, some observers predict Aerodrome will maintain its leading position on the Base network as the DeFi market regains momentum.

At the time of writing, DeFiLlama data also shows Base currently ranked sixth among Chains with the highest TVL. It is now closing in on the fifth place of Arbitrum, which has a TVL of $2.348 billion.

Source: DeFiLlama

Among the top 10 Chains by TVL, only SUI recorded higher TVL growth than Base at 38% over the past month.

AERO Price Outlook

Success in DeFi has contributed to the positive sentiment surrounding Aerodrome's native token, helping to prop up the price.

See also: AVAX price heading towards $32

AERO is trading at $1.03 at the time of writing, down 4.58% on the daily chart but up 85% over the past 30 days.

On the daily timeframe, AERO appears to have broken out of the $0.49 to $1.02 range late last week, an area it has maintained since July.

Source: TradingView

The AERO/USD pair failed to establish support at $1.04, a price level that had acted as resistance in mid-July. However, it has since fallen back into this area.

Speculators are still eyeing $1.30, a level AERO has not convincingly reclaimed since May, as a short-term target.

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