Grayscale Research, the research arm of one of the crypto industry's largest asset managers, dedicated a significant portion of its latest report to Aave and its native token AAVE. The firm said AAVE's current market valuation appears low relative to the protocol's position in the decentralized finance (DeFi) sector and its financial performance.
According to the report, Aave's leadership in DeFi, along with its revenue generation capabilities and cash flows, are among the key factors supporting the token's long-term value proposition. Within this framework, Grayscale presented a valuation range of $80 to $100 for AAVE and also outlined a higher price scenario for the coming year.
The report also highlighted other projects that Grayscale considers noteworthy based on similar valuation metrics. Hyperliquid (HYPE), Uniswap (UNI), Sky (SKY), and Maple (MPL) were listed among the standout assets. Meanwhile, Grayscale filed in February 2026 to convert its Aave Trust into an ETF. At the time of writing, AAVE was trading at around $75.6.
-This is not investment advice. The article is based on Grayscale's official research report.
