Aave rally makes DeFi lending look more like a bank to investors

Aave's token rallied 13% to around $94, prompting investors to compare DeFi lending to traditional banking. Standard Chartered described Aave as an automated bank, and reports emerged of Kraken's parent company considering a strategic stake in an Aave-related entity. The Aave protocol, GHO, and product revenue are directed to AAVE token holders rather than Aave Labs, positioning Aave as a DAO-owned financial infrastructure. Investors are evaluating bank-like metrics such as liquidity, demand, and fee capture, but remain cautious about how these translate into net revenue for token holders.