Grayscale values AAVE at $175 using TradFi models
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- Grayscale applied traditional finance valuation models to AAVE, arriving at a $175 value target.
- CoinShares used a similar approach for HYPE and ETH, employing protocol fees, buybacks, and economic drivers to build long-term frameworks with 2031 base cases of $147 and $4,935 respectively.
- Hyperliquid's model directs 99% of protocol fees to buy back HYPE through its Assistance Fund, described by CoinShares as a direct example of token-level value accrual.
- ETH's projected $4,935 value comes mostly from its collateral and monetary role rather than cash flows, per CoinShares' sum-of-the-parts framework.
- Standard Chartered forecasts tokenized assets could lift DeFi assets to $2.7 trillion by 2030, positioning Uniswap as a major venue for tokenized markets.
Why it matters: Grayscale and CoinShares are applying Wall Street's DCF-style frameworks to DeFi tokens — producing explicit cash-flow-based price targets ($175 for AAVE, $147 for HYPE, $4,935 for ETH) where institutional investors previously had only price speculation to work with.
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