Aave Wallet Growth Hits 5-Year High Even as Standard Chartered Revises Crypto Forecasts
Aave logged its largest single-day pockets development in almost 5 years, with 1,806 new addresses created on Ethereum on June 30, in line with on-chain analytics agency Santiment.
The surge traces up with a $3,500 worth goal on Aave (AAVE) from Standard Chartered, a financial institution that has repeatedly minimize its personal Bitcoin (BTC) and Ethereum (ETH) forecasts this 12 months.
A Familiar Pattern of Forecasts
Standard Chartered initiated protection of AAVE with a goal implying almost 50 instances upside by 2030, constructed on an Aave $3,500 forecast tied to tokenized belongings flooding decentralized finance (DeFi). The financial institution made a similar call on Uniswap (UNI) weeks earlier, and that forecast additionally triggered a bounce in Uniswap network activity earlier than it cooled off.
The similar analysis desk cut its 2026 Bitcoin target from $150,000 to $100,000 and slashed its Ethereum price target 47%, from $7,500 to $4,000, throughout the similar three-month stretch.
“We forecast important upside for digital asset token costs into year-end, and we predict Aave has moved past the April incident.”
Geoff Kendrick, Standard Chartered
That April incident was the KelpDAO exploit, which drained roughly $292 million and fed a KelpDAO exploit fallout that briefly minimize Aave’s deposits almost in half. Aave has since restarted its AAVE buyback program below Aavenomics 3.0, confirmed by founder Stani Kulechov, including a direct revenue-to-token mechanism behind the present transfer.
Whether new wallets convert into deposits and borrowing, moderately than short-lived consideration, will determine if Aave’s development outlasts Standard Chartered’s personal forecasting document.
The put up Aave Wallet Growth Hits 5-Year High Even as Standard Chartered Revises Crypto Forecasts appeared first on BeInCrypto.
