Aave Hits 5-Year High in Daily Wallet Growth After Standard Chartered Forecast
Aave recorded its largest single-day wallet growth in nearly five years on June 30, with 1,806 new addresses created on Ethereum, according to Santiment. The surge follows a $3,500 price target on AAVE from Standard Chartered, which has repeatedly lowered its Bitcoin and Ethereum forecasts this year. The bank's analysts project nearly 50x upside for AAVE by 2030, tied to tokenized assets flowing into DeFi. However, Standard Chartered cut its Bitcoin target from $150,000 to $100,000 and Ethereum from $7,500 to $4,000 within the same period. The network growth spike mirrors a similar pattern seen with Uniswap after a comparable forecast. Aave previously suffered a KelpDAO exploit in April that briefly halved its deposits, but has since resumed its AAVE buyback program under Aavenomics 3.0. The key question remains whether new wallets will translate into sustained deposits and borrowing activity.
Key facts
- 1,806 new Aave addresses on Ethereum on June 30, highest since 2021.
- Standard Chartered set AAVE target at $3,500, implying 50x upside by 2030.
- Bank simultaneously cut Bitcoin and Ethereum forecasts significantly.
- Aave recovered from April KelpDAO exploit that halved deposits.
- Network growth mirrors Uniswap pattern after similar bank forecast.