Top Crypto Analyst Points to ‘Good Opportunities’ in DeFi Tokens $AAVE and $COMP

A popular cryptocurrency analyst has highlighted potential trading opportunities for the native tokens of two decentralized finance (DeFi) projects, Aave and Compound, as both of these have managed to hold their positions throughout the bear market.

According to the pseudonymous cryptocurrency analyst known as Altcoin Sherpa, who shared his thoughts on social media with his over 180,000 followers on the platform, Aave’s governance token $AAVE is “going to be an absolute steal” at current prices.

Sherpa’s reasoning stemmed from most tokens emissions being done with, which to him means there’s “not much more sell pressure relatively.” The project maintains a significant total value locked (TVL) of $5 billion, making it the fifth-largest DeFi project on the Ethereum network.

Aave, Altcoin Sherpa said, has a “long history of being battle tested” and is still one of the blue-chip DeFi tokens. The cryptocurrency is, at the time of writing, trading at $91 per coin, up from a low under the $50 mark seen earlier this year. The cryptocurrency’s all-time high was above the $500 mark, CryptoCompare data shows.

Aave Companies, the main developer behind the Aave Protocol, has notably recently asked the project’s decentralized autonomous organization, governed by AAVE token holders, for $16.28 million during the bear market. It’s the first time the organization asked the DAO for funds.