The bank forecasts a 50x rally for the DeFi token, citing recovery from a cyberattack and growth in tokenized assets.
Standard Chartered initiated coverage of decentralized lending protocol Aave with a $3,500 price target for 2030, representing a roughly 50-fold increase from its current price near $70. The target implies outperformance relative to bitcoin and other major cryptocurrencies.
Aave has rebounded from an April cyberattack that involved $290 million in stolen tokens used as collateral, leading to potential losses of up to $230 million. The protocol has since regained assets and market share, positioning it to benefit from a projected 37-fold growth in tokenized assets by 2030.
The bank’s digital assets research head noted Aave’s resilience and dominance in on-chain lending, despite the temporary disruption caused by the exploit. The forecast hinges on broader DeFi adoption and expansion in tokenized asset markets.