Aave is one of the most established decentralized lending protocols in crypto, with a market capitalization near $1.43 billion and a circulating supply of approximately 15.42 million tokens out of a fixed maximum of 16 million. The protocol's price ceiling depends less on headline total value locked than on whether Aave can sustain and expand its lending market share, capture a larger portion of on-chain credit activity, and translate protocol revenue into durable value for token holders.