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Aave generated $907 million in revenue across its lending markets during 2025 and another $333 million so far in 2026 as Standard Chartered initiated research coverage of the decentralized finance protocol.
The bank’s digital assets research head Geoff Kendrick set a $3,500 price target for AAVE by the end of 2030.
The forecast implies an increase of roughly 50 times from the token’s current price near $76 and would see AAVE outperform Bitcoin and Ethereum over the period.
The $907 million figure reflects a broad measure of revenue and interest generated across Aave’s products and lending markets. It should not be confused with revenue directly retained by the Aave DAO.
Aave governance materials previously said the protocol earned more than $100 million in 2025, mostly through reserve factor fees, and entered 2026 at an annualized revenue rate of about $120 million.
Aave has moved to capture a greater share of the revenue generated by products carrying its name.
The Aave Will Win framework directs all revenue from Aave branded products developed by Aave Labs to the DAO treasury. This includes revenue from the main interface, Aave App, Aave Card, Aave Pro and enterprise product Aave Kit.
Standard Chartered said Aave has largely recovered from the disruption caused by the April KelpDAO exploit.
Attackers used around $290 million in stolen assets as collateral on Aave to borrow other tokens, creating potential losses and prompting depositors to withdraw funds.
Kendrick said assets have started returning to the platform and that Aave remains positioned to maintain its lead in decentralized lending.
The bank expects the value of tokenized assets actively used in decentralized finance to increase 37 times by 2030.
Aave could benefit directly from that expansion because its revenue is closely tied to the amount of assets deposited and borrowed through its markets.
The protocol is also expanding through Horizon, an institutional lending market that allows qualified users to borrow stablecoins against tokenized real world assets.
Standard Chartered identified a possible restart of Aave’s token buyback program as another potential catalyst for the token.
At its peak in October 2025, Aave held roughly $75 billion in deposits. Kendrick said that level would have placed the protocol among the 30 largest banks in the United States by deposits.
AAVE was last trading near $76, up about 5% on the day.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
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