Grayscale Research: fair value for AAVE could rise to $175
According to Grayscale Research, AAVE appears undervalued at current levels.
The firm estimates that Aave could generate around $60 million in revenue in 2026. Applying a 20–25× earnings multiple commonly used for fintech companies, Grayscale estimates AAVE’s current fair value at roughly $80–100.
They also argue that over the next year, fair value could increase to $175 if greater regulatory clarity accelerates inflows of tokenized assets into DeFi lending.
Grayscale separately highlighted:
AAVE
UNI
SKY
as crypto assets whose valuations are becoming increasingly tied to protocol cash flows.
This contrasts with more “commodity-like” crypto assets such as Bitcoin, where valuation is driven less by revenue and more by scarcity, liquidity, and demand as a store of value.
According to Grayscale Research, AAVE appears undervalued at current levels.
The firm estimates that Aave could generate around $60 million in revenue in 2026. Applying a 20–25× earnings multiple commonly used for fintech companies, Grayscale estimates AAVE’s current fair value at roughly $80–100.
They also argue that over the next year, fair value could increase to $175 if greater regulatory clarity accelerates inflows of tokenized assets into DeFi lending.
Grayscale separately highlighted:
AAVE
UNI
SKY
as crypto assets whose valuations are becoming increasingly tied to protocol cash flows.
This contrasts with more “commodity-like” crypto assets such as Bitcoin, where valuation is driven less by revenue and more by scarcity, liquidity, and demand as a store of value.