Key Takeaways:
- Standard Chartered’s analyst, Geoff Kendrick, forecasts that Avalanche’s AVAX token could reach $55 by the end of 2025, eventually hitting $250 by 2029.
- The network’s innovative subnet architecture and a recent upgrade that lowered costs are seen as pivotal for its growth.
- With a relatively low market capitalization and increasing developer engagement, AVAX is poised for substantial gains should adoption increase.
Avalanche’s AVAX token is gearing up for significant advancements in the coming years that are expected to eclipse optimistic predictions for Bitcoin and Ethereum. According to Geoff Kendrick from Standard Chartered, “The unique thing about Avalanche is how it is attempting to achieve scale. Unlike Ethereum or Solana, Avalanche (AVAX) uses a set of subnets, or sidechains.”
Kendrick, while initiating coverage on AVAX, has set ambitious price targets: $55 by the end of 2025, increasing incrementally to $250 by the end of 2029.
He remarked, “While it is still too early to tell whether the new subnet approach will work, we think the fact that one-quarter of active subnets are already Etna-compatible is encouraging.”
The project, boasting a market cap of $9 billion, ranks as the 15th-largest cryptocurrency, indicating its capacity for profit from substantial improvements, Kendrick added. Looking ahead, he estimates that AVAX will outperform both Bitcoin and Ethereum, potentially crossing the $250 mark by 2029, representing a tenfold increase from its current price.
In preparation for its major December upgrade, the Avalanche Foundation successfully raised $250 million through a token sale involving investors like Galaxy Digital, Dragonfly, and ParaFi Capital.
