Aave (AAVE) - Complete Fundamental Analysis

Aave (AAVE) Cryptocurrency: Comprehensive Overview

Core Technology and Blockchain Architecture

Aave is an Open Source Protocol to create Non-Custodial Liquidity Markets to earn interest on supplying and borrowing assets with a variable interest rate. The protocol is comprised of publicly accessible, self-executing smart contracts that are deployed on various permissionless public blockchains.

The protocol is deployed on Ethereum, Polygon, Avalanche, BNB Chain, Fantom, and Harmony networks, as well as Layer 2 chains including Base, Arbitrum, Optimism, Gnosis, Base, Scroll, Metis, and ZKsync Era. Aave runs on software programs called smart contracts that remove the need for any middlemen, thereby automating lending-borrowing.

The protocol is comprised of publicly accessible, self-executing smart contracts that are deployed on various permissionless public blockchains. The Aave Protocol smart contracts have been audited and formally verified by third parties.

Primary Use Cases and Real-World Applications

Lending and Borrowing

Aave is a decentralised non-custodial liquidity protocol where users can participate as suppliers or borrowers. Suppliers provide liquidity to the market while earning interest, and borrowers can access liquidity by providing collateral that exceeds the borrowed amount.

A user selects a supported cryptocurrency (e.g., ETH, USDC) and supplies it into the Aave Protocol. Upon supplying, the address receives a corresponding amount of aTokens (e.g., aETH, aUSDC) in return. These tokens represent the addresses share in the pool and start accruing interest automatically.

The interest earned by liquidity providers is not fixed and varies depending on the utilisation rate of the asset in the pool. The utilisation rate is the percentage of the total pool that is currently borrowed. High Utilisation Rate: if a large portion of the pool is being borrowed, the interest rate increases. This incentivizes supplies, borrow repayments, and disincentivizes further borrowing.

Flash Loans

Aave pioneered the use of flash loans, in which people borrow cryptocurrency without collateral, use it to buy an asset, sell that asset, and then return the original amount in the same transaction while pocketing their profit. If the principal and interest are not repaid within one Ethereum transaction, the flash loan is effectively reversed.

Real-World Assets Integration

Aave also provides pools for real-world assets, like real estate, cargo and freight invoices, and payment advances. For such pools, a partner company called Centrifuge helps brick-and-mortar businesses tokenize aspects of their operations. Once tokenized, investors can purchase (or hold as collateral) these tokens, which behave similar to bonds and earn a yield on their holdings.

Native Stablecoin

In July 2022, Aave's community approved the launch of GHO, a decentralized, collateralized stablecoin.

Founding Team, Key Developers, and Project History

Founder and Early Development

Stani Kulechov, a law student in Helsinki, founded a for-profit company named ETHLend in 2017. In the same year, ETHLend conducted an initial coin offering (ICO) of its native LEND tokens and raised $16.2 million.

Kulechov renamed ETHLend to Aave in 2018, shifting from peer-to-peer lending and borrowing to smart contract-powered liquidity pools. Consequently, LEND token holders migrated to LEND's updated counterpart Aave. The migration ratio was 100 LEND to 1 Aave, dropping the maximum token supply to 16 million Aave.

Key Contributors

Marc Zeller's journey in the crypto ecosystem began in 2015 when he co-founded Ethereum France and organized the EthCC conference in Paris. Established in 2022, ACI is a leading service provider for the Aave DAO. Zeller played a crucial role in the launch of Aave, joining EthLend in 2019 to prepare for Aave V1's release in 2020.

At the time of writing, the Aave team is made up of 29 individuals with Stani Kulechov as the CEO.

Tokenomics: Supply, Distribution, and Mechanics

Total and Circulating Supply

The circulating supply of Aave is 15,181,444 tokens and the total supply is 16,000,000 tokens. The total supply of AAVE is capped at 16M tokens. Of this amount, 13M were redeemed by LEND token holders and the remaining 3M were sent to the Aave Ecosystem Reserve.

Token Distribution

The Aave allocation includes LEND to AAVE Migrator at 81.25% and AAVE Ecosystem Reserve at 18.75%. The largest individual address holding AAVE holds slightly over 250,000 tokens, which is only 1.6% of the total available supply. This low percentage ensures that no single holder or group of holders can easily reach a majority to enforce their will, resulting in a genuinely democratic vote.

Vesting and Unlock Schedule

Aave follows a vesting schedule with allocations to the LEND to AAVE Migrator and AAVE Ecosystem Reserve. Most allocations are released through a cliff mechanism. The full unlock schedule extends into 2027. As of today, approximately 15,181,444 Aave which is 94.88% of Aave's total supply has been unlocked.

Deflationary Mechanics

AAVE tokens have been built based on the ERC-20 standard, and they are designed to be deflationary. The value capture originates from buybacks funded by protocol net revenues plus GHO interest profit. The decrease in sell pressure is due to the phasing out of the staking module, implying that Aave will utilize stablecoins and ETH from protocol revenues for expenditures, instead of issuing new $AAVE tokens. This shift will reduce Aave's market pressure and enhance its scarcity.

Consensus Mechanism and Network Security Model

Ethereum Proof of Stake

Aave is secured through the Ethereum blockchain, utilizing its Proof of Stake (PoS) consensus mechanism. Validators on Ethereum confirm transactions and uphold network security by proposing and attesting to blocks.

Protocol Security Measures

No protocol can be considered entirely risk free, but extensive steps have been taken to minimize these risks as much as possible – the Aave Protocol code is publicly available and auditable by anyone, and has been audited by multiple smart contract auditors. Any code changes must be executed through the onchain governance processes. Additionally, there is an ongoing bug bounty campaign and service providers specializing in technical reviews and risk mitigation.

Safety Module

Participants in the Aave Safety Module earn incentives for supplying tokens that backstop the protocol in the event of a shortfall. This mechanism helps protect the protocol from unforeseen risks and market volatility, and helps maintain the stability of the ecosystem.

Key Partnerships and Ecosystem Integrations

Stablecoin Partnerships

Aave has been a critical partner in supporting USDC's growth and success since the earliest days of USDC, and has now become a key distribution partner for both USDC and the launch of new Circle stablecoins such as EURC. They deliver some of the most significant innovation, scale and liquidity in DeFi.

Aave has played a pivotal role in driving USDT's growth within the DeFi ecosystem. By providing stability and liquidity, USDT bridges traditional finance and crypto, forming a strong foundation when integrated with Aave.

Cross-Chain Integration

Aave integrated with the Polygon network in 2021 to leverage its scalability solutions, reducing transaction costs and enhancing the user experience for Aave users.

Real-World Asset Partnerships

For such pools, a partner company called Centrifuge helps brick-and-mortar businesses tokenize aspects of their operations.

Competitive Advantages and Unique Value Proposition

Market Leadership

DeFi protocol Aave is one of the largest lenders of cryptocurrency and its AAVE token has a larger market cap than rivals Maker or Compound. Aave has been a pioneer in decentralized finance, setting high standards for security, reliability, and risk management. Their achievements in building a leading lending protocol and establishing best practices around how to secure DeFi correctly has made the entire industry attractive to users and institutions.

Scale and Adoption

Aave handles tens of billions of dollars across 12+ networks.

Innovation in DeFi

Aave is a DeFi protocol that created the unique concept of Flash Loans. This process enables users to borrow funds instantly without providing collateral. Another big selling point is how those who borrow through Aave can alternate between fixed and variable interest rates. While fixed rates can provide some certainty about costs during times of volatility in the crypto markets, variable rates can come in handy if the borrower thinks that prices will fall in the near future.

Decentralized Governance

The distribution of tokens is highly decentralized, both in relative and absolute terms.

Current Development Activity and Roadmap Highlights

Protocol Versions

Aave introduced its protocol in 2020, offering an enhanced and versatile lending and borrowing platform powered by Ethereum smart contracts. Aave launched its second version (V2) in 2020, introducing several improvements, including better user experience, increased efficiency, and additional features such as flash loans and stable-rate borrowing.

Governance Evolution

Aave Governance V3 introduces new features including voting on lower transaction fee networks and aAAVE voting power. Aave Governance V3 introduces the ability to vote on lower transaction fee networks such as Polygon POS and Avalanche C-Chain while token balances remain on Ethereum mainnet.

Recent Initiatives

Initiatives launched by ACI, such as Skywards, Dolce Vita, and Orbit, laid the efficient foundation for DAO processes. With the key technical support of former founding team members (now BGD Labs), the codebase continued to optimize, the protocol achieved positive returns, and regained market share in the most brutal competitive environment in history.

Safety Module Modernization

Aave has established reserves known as the "Safety Module" to address potential bad debts within the protocol. These reserves consist of: Staked $AAVE, with a current market value of $275 million · Staked GHO, which is a native stablecoin of Aave, holds a current market value of $60 million · Staked $AAVE-$ETH LP tokens, a significant source of on-chain liquidity for Aave, currently valued at $124 million.

Sources:

1. https://aave.com/
2. https://www.ledger.com/academy/topics/defi/what-is-aave
3. https://en.wikipedia.org/wiki/Aave
4. https://crypto.com/en/university/what-is-the-aave-protocol
5. https://aave.com/help/aave-101/introduction-to-aave
6. https://decrypt.co/resources/what-is-aave-inside-the-defi-lending-protocol
7. https://coinmarketcap.com/currencies/aave/
8. https://www.coingecko.com/en/coins/aave
9. https://blockworks.co/speaker/marc-zeller
10. https://clay.earth/profile/marc-zeller
11. https://www.cypherhunter.com/en/p/marc-zeller/
12. https://www.chaincatcher.com/en/article/2206324
13. https://www.dgen.org/blog/the-future-of-defi-with-marc-zeller-of-aave
14. https://bitcoinethereumnews.com/tech/the-inspiring-story-of-marc-zeller-and-aaves-growth/
15. https://www.crypto-news-flash.com/the-inspiring-story-of-marc-zeller-and-aaves-growth/
16. https://tokenomist.ai/aave
17. https://www.mexc.com/price/AAVE/tokenomics
18. https://mint-ventures.medium.com/exploring-the-updated-aavenomics-buybacks-profit-distribution-and-safety-module-shift-bcf14abb17fa
19. https://exponential.fi/assets/8900d4d4-bed3-4206-b99e-df6d883c9443
20. https://content.forgd.com/p/tokenomics-101-aave
21. https://tokenomicsdao.xyz/blog/tokenomics-101/tokenomics-101-aave/
22. https://medium.com/coinmonks/a-detailed-study-of-the-aave-platform-and-token-1310908b8a08
23. https://www.sciencedirect.com/science/article/abs/pii/S1042957325000348
24. https://www.gemini.com/cryptopedia/aave-flashloans
25. https://www.dydx.xyz/crypto-learning/what-is-aave
26. https://www.coindesk.com/tech/2020/08/24/no-collateral-required-how-aave-brought-unsecured-borrowing-to-defi
27. https://ndax.io/en/blog/article/what-is-aave-aave
28. https://finematics.com/lending-and-borrowing-in-defi-explained/
29. https://www.bis.org/publ/work1183.htm
30. https://aave.com/docs/ecosystem/governance
31. https://docs.aave.com/developers/v/2.0/protocol-governance/governance
32. https://coinpaprika.com/coin/aave-new/
33. https://www.gate

I'll retrieve the necessary data on Aave and search for current information.

AAVE Price Prediction Analysis

Current Market Context

Aave is currently ranked No. 36 in the entire crypto ecosystem with a price of $165.12 and a market cap of $2,528,490,000.00, with a circulation supply of 15,313,100 AAVE. The token has experienced significant volatility in recent months, with the price of AAVE decreasing by 12.93% within the last month.

Short-Term Predictions (2025-2026)

2025 Forecast

In 2025, AAVE price predictions vary widely, with Changelly forecasting $187.36, DigitalCoinPrice expecting $433.18, and CoinCodex estimating an average price of $227.73.

2025 Price Range Summary:

2026 Forecast

An uptrend is expected in 2026, as Changelly predicts $298.20 and DigitalCoinPrice anticipates $511.10. However, the forecast from CoinCodex suggests a cautious approach to the market, as the coin could drop to $400.48.

2026 Price Range Summary:

Medium-Term Predictions (2027-2028)

2027 Forecast

In 2027, AAVE is expected to have minimum and maximum prices of about $413.29 and $493.94, respectively, with an average expected trading cost of $424.75.

2027 Price Range Summary:

2028 Forecast

In 2028, the minimum AAVE price might drop to $594.14, while its maximum can reach $712.13, with an average trading cost around $611.13.

2028 Price Range Summary:

Long-Term Predictions (2029-2030)

2029 Forecast

The AAVE forecast for 2029 estimates a minimum price of $624.47, a maximum price of $773.92, and an average price of $733.89.

2030 Forecast

Based on expert predictions, the estimated average AAVE price will be around $1,407.78. It might drop to a minimum of $1,362.07, but it still might reach $1,543.15 throughout 2030.

2030 Price Range Summary:

Expert and Analyst Forecasts

Notable Analyst Views

Ali Martinez, one of the most respected analysts on X, pointed out that AAVE broke out of a falling wedge pattern on the four-hour chart, which is normally a bullish setup. Based on this move, Martinez set a price target of $335, suggesting meaningful upside if the bullish momentum holds.

Whales bought more than 62 million AAVE tokens in just 72 hours, indicating institutional confidence in the asset.

Venture Capital Perspective

Billionaire venture capitalist Tim Draper is sticking to his prediction that Aave will reach $462.58 by the end of 2026 or early 2026.

AI and Algorithmic Prediction Aggregations

CoinCodex Algorithm

The Aave price prediction on CoinCodex is calculated using the historical Aave price dataset, accounting for past volatility and market movements. In addition, the algorithm uses the cyclical nature of Bitcoin halvings, which introduce extra supply-side pressure on BTC every 4 years. This has historically played a pivotal role in cryptocurrency markets and is a major component of creating a realistic Aave prediction.

Machine Learning Models

Analysis guided by machine learning experts yields forecasts with a mean absolute error (MAE) value of 3 and an error value of 0.72%.

Historical Price Pattern Analysis

Aave hit its all-time high of $666.03 in May 2021, representing a market cap of just over $8 billion. Aave entered 2025 at around $308. The year brought intense volatility. The token dropped to nearly $115 during strong market sell-offs but later bounced toward $382.

Aave's total value locked doubled in 2025, rising from $21 billion to over $44 billion, while active loans exceeded $30.2 billion by September.

Key Price Catalysts and Potential Triggers

Positive Catalysts

Aave V4 Security Hardening (December 2025) is focused on audit remediation and finalizing supporting components for the next major protocol version. This production release enhances the existing V3 protocol with new financial features and efficiency improvements, deployed across multiple networks including Ethereum, Optimism, and Sonic. The update introduces Liquid eMode, which allows for exclusive collateral and borrowing configurations to optimize capital efficiency for specific asset types.

The Aave App is a mobile application launched on the Apple App Store in November 2025, designed as a user-friendly gateway to DeFi savings. The full-scale rollout throughout 2026 targets acquiring its first million users by competing directly with traditional fintech apps.

The U.S. Securities and Exchange Commission (SEC) concluded its four-year investigation into the DeFi lending protocol Aave on December 16, 2025, without recommending enforcement action. Aave founder Stani Kulechov announced the news, stating that the SEC had informed Aave in August that it would not pursue enforcement. This resolution removes a significant regulatory overhang for Aave and is seen by Kulechov as a victory for decentralized finance (DeFi).

Bitwise filed applications with the SEC for 11 new U.S. Spot crypto ETFs, targeting altcoins such as Aave (AAVE), Uniswap (UNI), and Sui (SUI), signaling growing institutional interest in diversified crypto investment products.

Negative Catalysts

A governance crisis erupted on Dec 20, 2025, as delegates accused Aave Labs of diverting ~$200K weekly swap fees from CowSwap away from the DAO treasury.

A governance dispute is causing negative sentiment and on-chain selling pressure. $AAVE loses over 980 onchain holders, trading activity drops by over 85%, and 59% of posts about $aave are negative, highlighting investors' opinion on the Aave Labs and Aave DAO debacle.

Factors That Could Invalidate Predictions

Regulatory Risks

As governments worldwide increase their scrutiny of cryptocurrencies and DeFi, regulatory hurdles could restrict Aave's operations or impact its user base. Any negative regulatory news could lead to a decline in AAVE's price.

Competitive Pressures

The DeFi space is crowded, with numerous platforms vying for market share.

Governance and Execution Risk

Execution risk exists; any delay or complexity in migration from V3 could temporarily dampen sentiment.

Whale Concentration

The statistics of AAVE holders give cause for concern. Since the top 100 holders own more than 83% of the token supply, this could backfire if the market dumps.

Market Sentiment

Current sentiment is Bearish while the Fear & Greed Index is showing 25 (Extreme Fear).

Sources:

1. Changelly - https://changelly.com/blog/aave-price-prediction/
2. CoinCodex - https://coincodex.com/crypto/aave-token/price-prediction/
3. Cryptopolitan - https://www.cryptopolitan.com/aave-price-prediction/
4. CoinPedia - https://coinpedia.org/price-prediction/aave-price-prediction/
5. DigitalCoinPrice - https://digitalcoinprice.com/forecast/aave
6. 3commas - https://3commas.io/predictions/aave
7. Long Forecast - https://longforecast.com/aave
8. Bitget - https://www.bitget.com/price/aave/price-prediction
9. StealthEX - https://stealthex.io/blog/aave-price-prediction/
10. CoinLore - https://www.coinlore.com/coin/aave/forecast/price-prediction
11. BlockDAG - https://blockdag.network/blog/aave-price-prediction-for-2025-2030-2040-2050-and-the-next-bull-run
12. 99Bitcoins - https://99bitcoins.com/price-predictions/aave/
13. CoinMarketCap - https://coinmarketcap.com/cmc-ai/aave/price-prediction/
14. Messari - https://messari.io/project/aave
15. CoinDCX - https://coindcx.com/blog/price-predictions/aave-price-prediction/
16. CryptoNews - https://cryptonews.com/price-predictions/aave-price-prediction/

Now I have comprehensive data to provide a detailed analysis. Let me compile the findings into a structured price potential analysis.

AAVE Price Potential Analysis

Current Market Position

Aave's all-time high was $666.86 on May 18, 2021, and the token currently trades at approximately $145-160 USD, representing a 76-77% decline from peak valuations. Aave's total value locked (TVL) surged from $8 billion in early 2024 to over $40 billion by August 2025, with current combined TVL at $36.5 billion across multiple blockchains.

The current market cap of approximately $2.2-2.3 billion reflects Aave's position as a mid-cap DeFi protocol, with 15.2 million circulating tokens out of 16 million total supply.

Market Cap Comparison Analysis

Competitive Positioning:

MakerDAO leads DeFi lending with 28% market share, while Compound and Aave follow with 24% and 21% market share respectively. However, Aave has established itself as the undisputed leader in DeFi lending markets with approximately 60% market share of the entire DeFi lending sector, indicating measurement differences across data sources reflecting Aave's multi-chain presence.

Traditional Finance Comparison:

The global lending market operates at a vastly larger scale. The global financial services industry occupies the top spot, with a market value of $22.5 trillion. Even at conservative penetration assumptions, DeFi lending represents a fraction of traditional lending markets. The Total Value Locked (TVL) across all DeFi protocols reached $123.6 billion in 2025, up 41% year-over-year, with lending protocols commanding the largest share.

Historical ATH Analysis and Context

The highest price that Aave reached was $633.66 in May 2021. At that peak, Aave's market cap was approximately $10 billion (based on similar circulating supply). The 2021 peak occurred during peak DeFi euphoria when TVL was substantially lower than current levels, suggesting the previous ATH reflected speculative valuation rather than fundamental adoption metrics.

The current price represents a significant retracement from 2021 levels despite substantially higher TVL, indicating the market has repriced Aave based on more mature adoption patterns and reduced speculation.

Supply Dynamics Impact

With 15.2 million circulating tokens and 16 million total supply, Aave operates with minimal dilution risk. Circulation is linked to the total value locked on Aave, as tokens are burned whenever the protocol gathers fees. This deflationary mechanism creates a structural support for token value as protocol revenue increases.

Fees (Annualized) are $703.8m, with cumulative fees of $1.746b and revenue (Annualized) of $87.75m. The protocol's revenue generation supports buyback mechanisms that reduce circulating supply over time.

Network Effects and Adoption Curve

Aave has evolved into a multi-chain liquidity powerhouse spanning Ethereum, Polygon, Avalanche, and other EVM-compatible networks, with TVL surging from $8 billion in early 2024 to over $40 billion by August 2025.

On-chain lending reached record levels of $45 billion, led by Ethereum-based protocols Aave and Morpho. In particular, Aave posted the strongest growth. As of January, the protocol's active loans were around $15 billion. At the peak of risk appetite in late 2025, AAVE's active loans reached $30 billion, representing a 100% or double growth.

Aave's dominance is particularly notable given its command of approximately 80% of outstanding debt on Ethereum, demonstrating network concentration that creates switching costs and competitive moats.

TAM (Total Addressable Market) Analysis

The addressable market for Aave spans multiple dimensions:

1. Global Lending Market: Estimated at trillions of dollars across traditional finance
2. Crypto-Native Lending: DeFi lending protocols saw over $51 billion in outstanding loans across platforms by June 2025
3. Institutional Capital: In 2025, 59% of surveyed institutional investors plan to allocate over 5% of AUM to digital assets. ~71% of institutional investors already hold digital assets as of mid-2025

Founder Stani Kulechov forecasts reaching $100 billion in net deposits by year-end, already over $60 billion in deposits with 14 chains active, suggesting management expects 2.5x TVL expansion from mid-2025 levels.

Growth Catalysts

Institutional Adoption:
The protocol's growth coincides with broader institutional adoption of DeFi lending, as the sector matures from experimental technology to functional financial infrastructure. This trend suggests that decentralized lending may increasingly serve as a bridge between traditional finance and cryptocurrency markets.

Product Innovation:
The launch of GHO, Aave's native overcollateralized stablecoin, has added a new dimension of utility to the platform, boasting a market cap of $312 million. The upcoming V4 upgrade promises to introduce a new "Hub and Spoke" design aimed at unifying fragmented liquidity and enhancing capital efficiency.

Cross-Chain Expansion:
Ethereum hosts 77% of all TVL in DeFi lending protocols in 2025, remaining the dominant infrastructure, but Aave's deployment across multiple chains provides diversification and reduces single-chain risk.

Limiting Factors and Realistic Constraints

Regulatory Risk:
Regulatory scrutiny has intensified globally, particularly in Europe and the U.S., around consumer protection, collateral segregation, and disclosure. Regulatory restrictions could limit institutional adoption or require protocol modifications.

Competition:
Morpho is an open lending infrastructure that merges the simplicity of vault deposits with the efficiency of optimized peer-to-peer matching, with over $10 billion in total deposits and $3.4 billion in active loans. Emerging competitors offer alternative architectures that could fragment market share.

Market Saturation:
JustLend's growth on TRON demonstrates network-specific advantages, recently overtaking Aave in some TVL metrics through optimization for TRON's high-speed, low-cost infrastructure. This competition illustrates the multi-chain landscape's complexity where protocol success depends increasingly on network-specific optimization.

Analysis Scenarios

Conservative Scenario: 2x-3x Upside

Assumes modest TVL growth to $60-80 billion and market cap expansion to $4.5-6.5 billion. This scenario reflects continued institutional adoption without breakthrough adoption or regulatory tailwinds. At 15.2 million circulating tokens, this translates to token prices of $295-430 per AAVE.

Base Scenario: 3x-5x Upside

Assumes TVL reaches $100-120 billion (management guidance territory) with market cap expanding to $7-10 billion as DeFi matures and institutional capital flows accelerate. This reflects successful execution of V4 upgrades and GHO expansion. Token prices would reach $460-660 per AAVE, approaching but not exceeding previous ATH.

Optimistic Scenario: 5x-8x Upside

Assumes TVL reaches $150-200 billion through successful cross-chain expansion and institutional adoption, with market cap expanding to $10-15 billion as Aave captures meaningful share of global lending infrastructure. This scenario requires sustained regulatory clarity and breakthrough institutional adoption. Token prices would reach $660-990 per AAVE, exceeding previous ATH by 0-50%.

Key Valuation Metrics

At current $2.2 billion market cap with $36.5 billion TVL, Aave trades at a TVL-to-market-cap ratio of approximately 16.6x. This ratio provides a useful benchmark: if the ratio compresses to 10x (reflecting higher token valuations as protocols mature), a $100 billion TVL would support a $10 billion market cap, or approximately $660 per token.

The protocol's revenue generation of $87.75 million annualized against a $2.2 billion market cap yields a price-to-revenue multiple of approximately 25x, comparable to high-growth software companies but substantially lower than peak 2021 multiples exceeding 100x.

Sources:

1. https://coinmarketcap.com/currencies/aave/
2. https://www.coingecko.com/en/coins/aave
3. https://www.kraken.com/prices/aave
4. https://defillama.com/protocol/aave
5. https://bingx.com/en/learn/article/what-are-the-top-defi-lending-protocols-to-watch
6. https://coinlaw.io/aave-statistics/
7. https://www.theblock.co/post/366397/aaves-parabolic-growth-towards-50-billion-tvl-signals-iinstitutional-embrace-of-defi-lending
8. https://coinlaw.io/crypto-lending-and-borrowing-statistics/
9. https://coinlaw.io/defi-lending-protocols-statistics/
10. https://eng.ambcrypto.com/defi-2025-review-top-protocols-and-2026-predictions/
11. https://yellow.com/en-US/asset/aave
12. https://www.21shares.com/en-us/research/aave-is-growing-in-defi-dominance

I'll gather current information about Aave and create a comprehensive purchasing guide for you.