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Aave could soar to $3,500 by 2030 on DeFi revival, says StanChart
Key takeaways
- Kendrick said Aave has largely recovered from market-share losses tied to the April Kelp DAO exploit and is regaining assets on its platform.
- Kendrick's target implies a roughly 50-fold increase from AAVE's current price near $70 and would see the token outperform both bitcoin BTC$62,034.97 and ether (ETH) over the period, according to the report.
- "We think Aave has moved past the April cybertheft incident as assets start to return to the platform," said Kendrick, head of digital assets research at Standard Chartered in a new report.
Kendrick said Aave has largely recovered from market-share losses tied to the April Kelp DAO exploit and is regaining assets on its platform. Tokenized assets active in DeFi are expected to grow 37-fold by 2030, providing a major tailwind for Aave's lending business.
Standard Chartered's Geoff Kendrick has initiated coverage of decentralized lending protocol Aave AAVE$76.48, forecasting the token could climb to $3,500 by the end of 2030 as the platform benefits from renewed growth in decentralized finance and tokenized real-world assets.
Kendrick's target implies a roughly 50-fold increase from AAVE's current price near $70 and would see the token outperform both bitcoin BTC$62,034.97 and ether (ETH) over the period, according to the report.
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