Avalanche's AVAX Could Expand 10-Fold by 2029: Standard Chartered
Jeff Kendick argues that improved scalability should increase activity and value of the Avalanche network.
Author: Helen Brown | Edited by: Stephen Alpher April 2, 2025, 16:19 UTC
Key points:
- According to Jeff Kendick of Standard Chartered, AVAX could reach $55 by the end of the year and $250 by 2029.
- Unique subnet architecture and recent upgrades that reduce costs are key growth drivers.
- AVAX's low market cap and growing developer interest bode well for the company as adoption accelerates.
Standard Chartered's Jeff Kendick believes Avalanche's AVAX token is poised for significant growth in the coming years, which should outpace even the most bullish forecasts for Bitcoin and Ethereum.
“What sets Avalanche apart is its approach to scaling. Unlike Ethereum or Solana, Avalanche (AVAX) uses a set of subnets or sidechains,” Kendick said in a report on Wednesday, providing forecasts for AVAX with price targets of $55 by the end of 2025, $100 by 2026, $150 by 2027, $200 by 2028, and $250 by the end of 2029.
“While it is too early to tell how successful the new subnet approach will be, we find it encouraging that a quarter of active subnets are already Etna-compatible.”
He also pointed to an increase in the number of developers after an update in December that reduced the cost of creating subnets to virtually zero.
Avalanche, with a market cap of $9 billion, currently ranks 15th among cryptocurrencies by that metric, making it an attractive candidate to profit from significant improvements, according to Kendick. It ranks 10th among blockchains by total value locked (TVL).
“We therefore expect AVAX to outperform both Bitcoin and Ethereum in terms of relative price growth in the coming years, reaching around $250 by the end of 2029, more than 10x its current price.”
Ahead of the December update, the Avalanche Foundation, the issuer of AVAX, raised $250 million in a token sale organized by Galaxy Digital, Dragonfly, and ParaFi Capital.
