AAVE around the $100 price range, fully diluted, can be considered very cheap. Below $100 is extremely cheap. During the last deep bear market, the price was around $70, a period of liquidity drought, no stablecoin regulations, and no institutional borrowing demand. Although the power struggle between Aave Labs and the DAO has become a potential risk, it has not yet affected Aave's dominance in the lending market.