$AERO Soars 70% in a Week – Is Coinbase-Backed DEX the Next Billion-Dollar DeFi Star?

Aerodrome Finance ($AERO) is charting a steady ascent, climbing 70% in a week as traders pile into Base’s top DEX, now just $230M shy of a $1B market cap.

The Coinbase-backed exchange has added another 15% in the past day, with its sustained momentum raising questions.

Is this organic growth from deeper protocol adoption, or the kind of speculative fervor that often marks crypto’s bull cycles?

As the second-largest liquidity hub on Ethereum’s layer-2 Base blockchain, Aerodrome has proven to be a resilient and dependable protocol since its debut nearly two years ago.

Base currently holds $3.83 billion in total value locked (TVL), with Aerodrome contributing over $1.02 billion, making it one of the leading decentralized finance (DeFi) infrastructures on the network.

Aerodrome processes a daily average of $500 million in decentralized exchange volume, surpassing even Uniswap’s volume on the Base chain.

The protocol also leads the network in revenue generation, averaging $2.68 million in weekly earnings and projecting an annualized revenue of roughly $166 million.

This places Aerodrome ahead of other prominent protocols on Base, such as Coinbase Wallet, Maestro Bot, Phantom Wallet, and Virtual Protocol, regarding economic impact.

Many crypto analysts argue that $AERO remains greatly undervalued.

For context, Ethereum-based DEX Uniswap commands a market cap exceeding $4.7 billion, while Solana-native DEX Jupiter, despite recent sluggish performance, still sits above the $1 billion mark.

With strong backing from Coinbase, Aerodrome is well-positioned to capitalize on Base’s growing adoption, particularly with the introduction of smart wallets and cbBTC liquidity pools.

Institutional activity is also accelerating. Just days ago, Wall Street powerhouse JPMorgan launched its $JPMD deposit token for institutional clients on Base, indicating rising confidence in the ecosystem.

On June 19, Base achieved another major milestone with the rollout of stablecoin checkout for millions of Shopify merchants, a move expected to drive large transactional volume through the network.

Base founder Jesse Pollak has emphasized the network’s broader mission: “to build a global economy that increases innovation, creativity, and freedom.”

The mission is to build a global economy that increases innovation, creativity, and freedom. @jessepollak w/ @ThinkingCrypto1 pic.twitter.com/kGe0oqwiQg

Should that vision unfold, platforms like Aerodrome could see their valuations soar into the multi-billion-dollar range.

One Bitcoin maximalist bullish on Base believes $AERO could hit $10 during this bull cycle if the growth trajectory continues. This move would deliver over 1,000% returns from current levels and push it above meme coins like Shiba Inu.

My personal analysis to $AERO, I believe the bull run price of this project is no less than $10. #altseason #base #aerodrome pic.twitter.com/D9n1ZY9L06

On the technical side, the action of $AERO’s price reinforces this bullish narrative. The $AERO/$USD daily chart shows a strong upward trend, with the token trading at $0.924 after surging from the $0.60 support zone.

The pattern follows Elliott Wave theory, forming Wave (D) with a projected continuation toward the $1.41 resistance level as Wave (E) unfolds.

Momentum remains high, backed by increasing trading volume and an RSI reading above 70, indicating overbought conditions. While this suggests a possible short-term pullback or sideways movement, the broader trend remains bullish.

The confirmed breakout above $0.605 indicates a trend reversal. If bullish momentum persists, the next key target is $1.41.

In the long term, $AERO may seek to reclaim its 2024 high around $2.30. That said, a temporary retracement to the $0.75–$0.80 range remains possible as the RSI cools down.

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