Avalanche’s AVAX token is gaining attention as analysts predict it could significantly outperform Bitcoin and Ethereum by the end of the decade. Geoff Kendrick, Standard Chartered’s Global Head of Digital Assets Research, forecasts that AVAX could reach $250 by 2029—more than 10 times its current price. This bullish outlook is fueled by Avalanche’s innovative blockchain model, developer growth, and strategic upgrades.
Avalanche’s Competitive Edge
Unlike Ethereum, which relies on external layer 2 solutions for scalability, Avalanche allows developers to launch custom blockchains directly integrated into its main network. This unique approach was further enhanced by the December 2024 Etna upgrade, which lowered AVAX staking costs and attracted a 40% increase in core developers. Analysts believe these factors position Avalanche for significant growth compared to larger cryptocurrencies like Bitcoin and Ethereum.
Geoff Kendrick emphasized that Avalanche’s smaller market cap enables higher percentage gains, describing it as “right-sized for growth.” Combined with increasing developer momentum and reduced entry barriers, AVAX is poised to capitalize on its expanding ecosystem.
Institutional Interest Boosts Momentum
Institutional interest is also driving Avalanche’s growth. Applications for spot Avalanche ETFs from Grayscale and VanEck signal growing investor confidence in the platform. Partnerships with major firms like Japan’s SMBC and Fireblocks further strengthen its ecosystem, while Ava Labs’ potential IPO could enhance visibility among institutional and retail investors alike.
Standard Chartered projects AVAX will reach $55 by the end of this year, $100 by 2026, and $250 by 2029—outpacing expected gains for Bitcoin and Ethereum during the same period.
Bitcoin and Ethereum Outlook
While Avalanche shows promise as a high-growth asset, Bitcoin remains the safest long-term investment due to its increasing institutional adoption and declining volatility. Standard Chartered maintains its $500,000 price target for Bitcoin by 2029. Ethereum, however, faces challenges such as value leakage to layer 2 solutions and weakening tokenomics, leading to a revised 2025 price target of $4,000.
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