Standard Chartered Predicts Significant Gains for Avalanche’s AVAX Token
Avalanche’s AVAX token is on the brink of substantial growth over the next few years, with projections indicating it could surpass the already optimistic forecasts for both Bitcoin and Ethereum. Geoff Kendrick from Standard Chartered has expressed this bullish outlook, asserting that the unique scalability approach of Avalanche sets it apart from its competitors.
“What distinguishes Avalanche is its innovative strategy for achieving scalability. Unlike Ethereum or Solana, which operate on a single network, Avalanche utilizes a system of subnets, or sidechains,” Kendrick noted in a report released on Wednesday. He has initiated coverage on AVAX with ambitious price targets: $55 by the end of 2025, $100 for 2026, $150 for 2027, $200 for 2028, and a remarkable $250 by the conclusion of 2029.
Kendrick also highlighted the promising progress of the Avalanche network, noting that approximately one-quarter of active subnets are already compatible with Ethereum, which he views as a positive sign. Furthermore, he pointed out the increasing number of developers joining the ecosystem since the network’s December upgrade, which significantly reduced the cost of establishing a subnet to almost zero.
Currently boasting a market capitalization of $9 billion, Avalanche ranks as the 15th largest cryptocurrency by this metric. Kendrick believes this positions AVAX as a strong candidate for substantial gains, even from minor enhancements. Notably, among various blockchains, Avalanche holds the tenth position in terms of total value locked (TVL).
“Consequently, we anticipate that AVAX will outperform both Bitcoin and Ethereum in terms of relative price increases in the coming years, potentially reaching around $250 by the end of 2029, translating to more than a tenfold increase from its current price,” Kendrick stated confidently.
In anticipation of the December upgrade, the Avalanche Foundation, which is responsible for the AVAX token, successfully raised $250 million through a token sale led by prominent firms such as Galaxy Digital, Dragonfly, and ParaFi Capital.
