The Aave protocol generated $1.62 million in daily fees recently, with 30-day revenue reaching $82.14 million. Despite strong revenue growth, its native token is considered severely undervalued by key metrics. A lack of large investor orders suggests caution is warranted, with potential for further price decline indicated by on-chain data.
The Aave protocol recently generated $1.62 million in daily fees. Its revenue over the past 30 days reached $82.14 million, highlighting its role within DeFi’s credit structure.
The protocol saw a 31% month-over-month revenue growth in February, generating $13.4 million. Year-over-year, this figure was 38%, yielding $145 million in revenue over 12 months.
Despite this, the AAVE token price remained in a severe downtrend. Data from Glassnode showed the token was severely undervalued based on MVRV Pricing Bands.
The realized price of AAVE was $191.59, with a lower band at $152. The token’s price was well below this level and sliding lower each week.
CryptoQuant data measured average trade sizes, indicating whale interest. Currently, order sizes were smaller, hinting at the potential for further price drawdown.
Glassnode metrics showed the percentage of addresses in profit was at 30%. This signaled an ongoing bear market and suggested prices could have more room to decline.
On the price chart, the bearish structure remained intact. A drop below the $100 support would signal further bearish continuation.
