Aave Surges 15% as Standard Chartered Sets $3,500 Target, Bitcoin Dips Below $60,000

On June 25, Aave (AAVE) experienced a remarkable increase of over 15%, reaching $82.77, even as a significant selloff in the cryptocurrency market drove Bitcoin below $60,000 for the third instance in June. This uptick was influenced by a research report from Standard Chartered on June 24, in which Geoff Kendrick projected a price target of $3,500 by 2030, with estimates of $180 by 2026, $600 by 2027, $1,200 by 2028, and $2,200 by 2029 for AAVE. Additionally, on-chain data indicated a resurgence in USDT deposits, while Aave's Ethereum V3 Core approached $3 billion in stablecoin deposits. Aave Horizon drew interest from VanEck and WisdomTree, which collectively hold $163 million in loans. However, risks persist, as the $3,500 target hinges on the widespread adoption of tokenized assets.