Aerodrome processed $4.037 billion in seven-day DEX volume on Base, according to DefiLlama data reviewed on May 27, 2026, at 13:32 UTC, or 6:32 a.m. Pacific Time. The same DefiLlama protocol page showed Aerodrome with $14.188 billion in 30-day DEX volume and $671.7 million in 24-hour DEX volume, all on Base.
The weekly Base-Ethereum comparison is also supported directly by DefiLlama’s chain dashboards. At the same review cutoff, DefiLlama’s Base page showed $7.796 billion in seven-day DEX volume, while DefiLlama’s Ethereum chain page showed $6.99 billion in seven-day DEX volume. That puts Base ahead of Ethereum L1 by roughly $806 million in that rolling seven-day window.
DefiLlama Data Supports a Base-vs-Ethereum L1 Flip
The comparison is limited to Base chain DEX volume versus Ethereum chain DEX volume on DefiLlama. It does not include a combined “Ethereum ecosystem” total, and it does not aggregate other rollups such as Arbitrum, Optimism, Polygon, zkSync or any other L2 into Ethereum’s side of the comparison.
Social-market accounts including Today in DeFi and aixbt highlighted the same narrative, saying Base had flipped Ethereum in weekly DEX volume and that Aerodrome alone processed about $4 billion. Those posts are useful as market-context commentary, but the numerical basis for the article is DefiLlama’s direct dashboard data, not social attribution.
Structural Reading Should Stay Measured
The data supports a time-bound conclusion: Base was ahead of Ethereum L1 in rolling seven-day DEX volume at the May 27 review cutoff, while Aerodrome accounted for more than half of Base’s reported weekly DEX activity. It does not prove a permanent migration of liquidity, a durable execution-layer replacement or a sustained change in Ethereum’s role.
The cleaner interpretation is that Base captured a stronger short-term execution window, with Aerodrome serving as its main liquidity venue. Whether that becomes a lasting market-structure shift will depend on repeat weekly volume, liquidity depth, trading retention and fee conditions, not a single rolling dashboard snapshot.
Emma Lawson writes about the pressure points where crypto meets the outside world: regulation, exchanges, macro policy, tokenized assets and geopolitical risk. From the US, she follows the decisions and events that can change how capital moves, how platforms operate and how digital assets are treated by institutions.
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