Standard Chartered has released a report predicting significant price increases for Avalanche’s AVAX token, which could see a rise to $250 by the end of 2029.
Standard Chartered has released a report predicting significant price increases for Avalanche’s AVAX token, which could see a rise to $250 by the end of 2029.This projection suggests a staggering 1,326% increase from its current trading price of $18. In comparison, the bank anticipates that Bitcoin's price will reach approximately $500,000, marking a nearly 500% increase from its current value of around $82,650.
Geoff Kendrick, the global head of digital assets research at Standard Chartered, attributes Avalanche's potential growth to its innovative approach to network scaling through dedicated layer-1 application networks, previously known as subnets.
Kendrick noted that Avalanche's smaller market capitalization allows for substantial impacts from incremental development improvements, positioning AVAX to outperform both Bitcoin and Ethereum.
The bank forecasts that AVAX will experience positive momentum as early as this year, with a target price of $55 by the end of 2025. Further projections indicate prices of $100 in 2026, $150 in 2027, and $200 in 2028. Avalanche’s recent Etna Upgrade, which enhanced support for its scaling solutions and reduced engagement costs, is expected to attract more developers to its network.
Despite its current position, AVAX reached a peak of nearly $145 in 2021 and is currently trading approximately 88% below that level. The decentralized finance (DeFi) sector remains competitive, with various blockchains striving to enhance transaction speeds and lower costs to draw in users and developers.
Kendrick expressed cautious optimism about Avalanche’s new layer-1 approach, noting that one-quarter of active layer-1s are already compatible with the Etna upgrade, indicating a positive trend for future development on the network.
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