- Bitcoin has fallen over 50% from its October all-time high as a major crypto “Ponzi scheme” nears collapse, according to one analyst.
- Geoff Kendrick of Standard Chartered predicts the Aave token could surge 50-fold to $3,500 by 2030, creating “generational wealth.”
- The forecast comes despite a $300 million exploit on the Aave platform in April that revealed the system’s “fragility,” warned a trader.
Geoff Kendrick of Standard Chartered declared in a recent note that decentralized finance protocols are now poised for massive growth. He specifically initiated coverage of the Aave token with a long-term target of $3,500, implying a 50-fold increase from its current price near $70. Kendrick wrote, “This is where generational wealth will be created next,” suggesting DeFi lending will outperform major cryptocurrencies.
However, Aave has faced significant recent turbulence, including a major security breach in April. Consequently, the total value locked on its platform has plummeted from a peak of $75 billion to just $12.4 billion. Meanwhile, Kendrick remains bullish on the protocol’s future despite this setback, describing it as “an on-chain bank that runs without employees.”
This optimism contrasts sharply with the broader crypto market’s struggles, where Bitcoin has failed to follow tech stocks and instead fell alongside Gold. Furthermore, Kendrick predicts Bitcoin will return to $100,000 by late 2026, while Ethereum could reclaim $4,000. The analyst expects Aave to significantly outpace both of these market leaders over the next several years.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
