Gray research: The current price of the AAVE token has valuation support, and under the basic scenario, a reasonable price in one year could reach $175.

Deep Tide TechFlow News, June 18 — Grayscale Research released a report stating that as the valuation framework for crypto assets gradually aligns with traditional financial analysis, decentralized finance protocols with clear cash flow and token value capture mechanisms are drawing more attention. The report uses Aave as an example, noting that as a leading on-chain lending platform, its revenue mainly comes from lending interest spreads, treasury yields, and business related to its native stablecoin GHO. After ongoing optimization of its governance mechanisms, the link between the protocol’s economics and the value for AAVE token holders has been strengthened.

Grayscale Research stated that, based on discounted cash flow models and valuations derived from comparable companies in traditional finance, the current reasonable valuation range for AAVE tokens is approximately $80 to $100, higher than the current market price of about $75. Under a baseline scenario, if stablecoin adoption and the tokenization of real-world assets accelerate, the reasonable price of AAVE tokens within one year could rise to about $175. The report also warns that Aave still faces risks such as regulatory uncertainty around decentralized autonomous organizations, constraints imposed by its governance structure, and market competition.