AAVE, as a leader in the DeFi lending sector, is worth following for its market performance. Currently, AAVE holds a 67% share in the DeFi lending market, firmly maintaining its position as an industry leader.

From an income perspective, AAVE's performance is remarkable. During the bull market in 2021, AAVE's annual revenue reached 343 million dollars. As of 2024, AAVE has already achieved 320 million dollars in revenue. If we estimate this year's revenue based on the October revenue scale of 32 million dollars, AAVE's revenue is expected to surpass historical highs.

In terms of price, AAVE's current trading price is $256, which still has a 60% decline space compared to its historical peak. If we recognize fee income as a core driving factor, theoretically, AAVE may have about three times the growth opportunity.

Other indicators also show the potential of AAVE. The market capitalization to fully diluted valuation (MC/FDV) ratio of AAVE is currently 0.94, with a circulating supply of 14.9 million, accounting for the vast majority of the total supply of 16 million. About 1 million tokens remain in the protocol treasury for staking rewards in the security module and incentives for liquidity providers. This means that the AAVE token is basically fully circulated, with no pressure for large-scale unlocks in the future. Additionally, the market capitalization to total locked value (MC/TVL) ratio of AAVE is 0.16; the smaller this ratio, the higher the likelihood that the project is undervalued.

In terms of news, Aave is considering integrating BlackRock's tokenized fund BUIDL into its GHO stablecoin module. This initiative is expected to enrich AAVE's sources of income and increase its exposure to real-world assets (RWA).

From a trading perspective, AAVE has currently experienced a certain degree of pullback, but the price has not yet reached the daily EMA200 moving average. Investors may consider waiting for the price to retrace to that level and combine it with oversold signals to determine if it is an ideal buying opportunity. Of course, specific trading decisions need to be made in conjunction with individual investment planning and position management strategies.

Overall, AAVE's leading position in the Decentralized Finance field, strong revenue growth, and potential price upside make it a cryptocurrency asset worth following. However, investors should remain cautious, fully consider market risks, and manage their funds appropriately.