Per Woofun AI, Grayscale Research disclosed that AAVE tokens are currently undervalued, with a projected fair value reaching approximately $175 within the next twelve months. The analysis posits that the AAVE protocol will generate roughly $60 million in revenue by 2026. Applying a price-earnings multiple of 20 to 25 times, standard for financial technology firms, implies a reasonable market capitalization between $1.2 billion and $1.5 billion. This valuation corresponds to a token price range of $80 to $100, contrasting with the current trading level near $75. Under conditions of enhanced regulatory clarity and accelerated adoption of tokenized assets, the report suggests AAVE could appreciate further to the $175 mark. Grayscale categorizes AAVE as a cash-flow-driven asset, highlighting that decentralized finance protocols have accumulated nearly $25 billion in real-world transaction fees since 2023. The firm also expresses bullish sentiment toward other value-accumulating protocols, including HYPE, UNI, SKY, and MAPLE.