Coin Bureau described AAVE, one of the popular DeFi altcoin projects, as “low value” and claimed that this defi altcoin project could increase by 5k this year. Popular crypto channel Coin Bureau is reviewing decentralized lending and borrowing protocol Aave (AAVE). Detail cryptocoin.com‘in.
This DeFi altcoin project is undervalued
The analyst, nicknamed Guy, says that the decentralized finance (DeFi) sector in general has emerged from a decline compared to the rest of the crypto markets. Basically, adding that DeFi is very exciting and often very profitable, says the analyst:
The AAVE token has performed poorly and has almost doubled since the start of 2021. Nearly every DeFi token has struggled to keep up with the rest of the crypto market since it crashed in May last year. This seems to be because the hype has moved to NFTs.
The analyst states that Aave’s upcoming V3 upgrade should increase interest in the project. And he talks about what the upgrade will add to the project:
The most important upcoming milestone is the release of Aave V3, which will bring many new features to the Aave protocol. The first is a feature called Portal and will make it possible for lenders and borrowers to transfer tokens deposited from one blockchain to Aave V3 on other blockchains. The second feature is high efficiency mode and makes it possible to significantly increase the credit-to-value ratio for certain assets… The third feature in Aave V3 is Isolation Mode and will make it possible to add new tokens to the Aave protocol while minimizing the risks to the rest of the protocol.
The analyst’s predictions for the price of AAVE are as follows:
All this means that with a market cap of just $3 billion, AAVE is undervalued five times what it should have been and its fair value could be well over $1,000.
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