Grayscale applies traditional finance models to AAVE, sees $175 value

Grayscale Research applied discounted cash flows, earnings multiples, and bank comparisons to AAVE, setting a one-year base-case target of $175. The analysis estimates AAVE's current fair value at $80 to $100 and projects $60 million in net income for 2026. AAVE traded at $75 on Thursday.