Standard Chartered has released a report predicting a significant price rise for Avalanche’s Avax tokens. This could potentially rise to $250 by the end of 2029. In comparison, banks expect Bitcoin prices to reach around $500,000, up nearly 500% from around $82,650 from its current value.
Geoff Kendrick, global head of digital asset research at Standard Chartered, attributes avalanche’s potential growth to an innovative approach to network scaling through a dedicated Layer-1 application network previously known as subnets.
Kendrick says that Avalanche’s small market capitalization can have a major impact from gradual development improvements, and that Avax will place it to outweigh both Bitcoin and Ethereum.
The bank predicts that Avax has already experienced positive momentum this year, with its target price of $55 by the end of 2025. Additionally, forecasts show the recent ETNA upgrades of the avalanche, $100 in 2026 and $150 in 2027.
Despite his current position, Avax peaked at nearly $145 in 2021, currently about 88% below that level. The Decentralized Finance (DEFI) sector remains competitive, with various blockchains striving to increase transaction speeds and reduce costs to attract users and developers.
Kendrick has expressed careful optimism about Avalanche’s new Layer-1 approach, noting that a quarter of Active Layer-1 is already compatible with Etna upgrades, indicating a positive trend in future developments on the network.