Aero Ranks Second Globally in Daily DEX Volume

Aero has climbed to second place among decentralized exchanges by 24-hour spot trading volume, roughly two weeks after the unified multichain protocol launched. According to the DefiLlama DEX dashboard, Aero processed about $533 million over the latest 24-hour window, behind Uniswap at approximately $1.32 billion and narrowly ahead of PancakeSwap at $519 million. The ranking gives Aero its highest current position in the global daily DEX market.

The milestone follows the October 22 launch that combined Aerodrome and Velodrome under Aero and expanded the liquidity system beyond its original Base and Optimism deployments. Aerodrome’s official upgrade documentation confirms that Aero went live at 00:00 UTC on October 22, alongside the opening of token and liquidity-position migrations. The move transformed two previously separate DEX ecosystems into a single multichain trading platform.

Daily Volume Jumps After Multichain Expansion

Aero’s second-place position should be read as a 24-hour snapshot rather than a permanent global ranking. DefiLlama currently records about $5.0 billion in Aero volume over seven days and $17.05 billion over 30 days. PancakeSwap remains ahead on both longer windows, with roughly $5.93 billion and $22.85 billion respectively. Aero is therefore second globally by daily volume but third over both the weekly and monthly periods.

That distinction matters because trading volume can shift rapidly as liquidity, incentives and market activity move between chains. Before the Aero transition, Aerodrome already controlled approximately 53% of Base DEX volume, providing the unified protocol with a substantial existing execution base. The multichain launch extended an already dominant Base liquidity engine rather than creating Aero’s trading activity from zero.

Tokenized equities have become one source of that activity. A market snapshot circulated during Aero’s first week reported approximately $416 million in tokenized-stock volume, compared with $395 million for Uniswap, $244 million for Metric and $196 million for Raydium. The figures indicate that tokenized equities contributed meaningful turnover during Aero’s initial multichain expansion, although they describe a specific product segment and should not be treated as total DEX market share.

Aerodrome had already established a strong position in that category before the merger. It previously handled about 81% of tracked Coinbase-issued tokenized-stock volume on Base, building on an earlier period when it accounted for roughly 77% of the same market. That concentration gave Aero an established tokenized-equity liquidity base as it expanded across additional networks.

Market Share Depends on the Measurement Window

Some project-linked analyses have cited global volume shares of 16% or more for Aero, but those percentages depend on which chains, venues and time windows are included. DefiLlama’s current all-market data produces a lower share when Aero’s approximately $533 million in daily volume is compared with more than $4.3 billion across tracked DEXs. Market-share claims therefore need a clearly defined denominator before they can be compared reliably.

The same caution applies to comparisons involving Robinhood Chain, where tokenized assets have generated unusually large trading volumes. The network previously recorded $1.33 billion in tracked daily DEX turnover, illustrating how individual chains can materially reshape short-term rankings when activity spikes. Aero’s multichain structure gives it exposure to more of these liquidity centers, but volume remains a measure of turnover rather than unique users or fresh capital.

The measurable result is narrower but significant: Aero has reached second place in global 24-hour DEX volume shortly after becoming a unified multichain protocol. Sustaining that position across seven- and 30-day windows would represent a stronger indication that the post-merger expansion has permanently altered the competitive hierarchy among major decentralized exchanges.