Ethereum News Today: Base's Memecoin Launchpad Sparks DeFi's Fastest-Growing Hub

Coinbase’s Base layer-2 network has seen a significant surge in onchain activity, emerging as a central hub for decentralized exchange (DEX) liquidity. On March 30, Base reported a record $1.21 billion in 24-hour DEX trading volume, a 25% increase from the previous day’s $959.63 million [2]. The spike in volume underscores growing adoption of the network, particularly among retail traders and protocols that rely on Base’s low fees and fast transaction speeds. Uniswap dominated the volume, accounting for 64.3%, with Aerodrome Finance and SharkSwap contributing 9.7% and 7.8%, respectively [2].

The growth of Base coincides with a broader rise in decentralized finance (DeFi) activity on the Ethereum network. Daily active users on Base increased by approximately 12.4%, reaching 172,000 from 153,000 [2]. This uptick in user engagement is attributed to the recent popularity of memecoins and the launch of new protocols on the network. Jesse Pollak, a contributor to Base, highlighted the surge in transactions and active addresses as a sign of the network’s expanding user base [2]. Analysts suggest that the performance of memecoins, which often launch on Base, plays a key role in driving liquidity and volume across the network.

Aerodrome, one of the key DEX protocols on Base, has seen its liquidity pools and trading volume grow steadily, particularly as Ethereum’s performance has strengthened. Over the past 30 days, Aerodrome’s 30-day trading volume reached $22.3 billion, placing it fourth in the DEX rankings behind Uniswap, PancakeSwap, and Raydium [1]. The platform’s fees and revenue also increased by 17% to $16 million in August, reflecting the impact of rising volume and a growing user base [1]. This growth has propelled Aerodrome’s token (AERO) to a 50% price increase over the same period, making it one of the top-performing DeFi tokens in recent months [1].

The Coinbase DEX integration has further amplified Aerodrome’s visibility and liquidity. Aerodrome is now ranked 34 on the Coinbase 50 Index and has consistently climbed in each rebalance [1]. The integration not only exposes the platform to Coinbase’s retail user base but also enhances its ability to attract blue-chip and Coinbase-native assets. As a result, Aerodrome has become one of the leading DEX protocols for trading Ethereum-based tokens and has positioned itself as a strong competitor to Uniswap in the decentralized trading space [1].

Despite the positive momentum, the market remains cautious about the sustainability of the current trends. AERO’s technical indicators show signs of overbought conditions, with the Relative Strength Index (RSI) reaching 72, suggesting a potential cooldown could occur [1]. However, the coin’s upward trend has been supported by strong volume and a bullish MACD crossover, which could drive further gains if key resistance levels are broken. Analysts emphasize that while the short-term outlook for AERO remains positive, the broader DeFi market will need to maintain its momentum to sustain growth across Base’s ecosystem [1].

Source: [1] Aerodrome Crypto Competes With Uniswap: AERO Price ... (https://99bitcoins.com/news/presales/aerodrome-crypto-competes-with-uniswap-aero-price-prediction/) [2] Coinbase's Layer-2 Base Network Sees Record $1B DEX ... (https://coinmarketcap.com/academy/article/coinbases-layer-2-base-network-sees-record-dollar1b-dex-volume)