Standard Chartered analyst Geoff Kendrick is predicting major gains for Avalanche’s AVAX token, believing it will outperform both Bitcoin and Ethereum in the coming years. Kendrick initiated coverage on AVAX with a price target of $55 by the end of 2025, increasing to $100 by 2026, $150 by 2027, $200 by 2028, and $250 by the end of 2029. He cites the network’s unique approach to achieving scale through the use of subnets or sidechains, which has already seen a quarter of active subnets become Etna-compatible. The network’s growing developer numbers, following a December upgrade that reduced the cost of establishing a subnet to nearly zero, are also seen as encouraging. With a market cap of $9 billion, Avalanche is currently the 15th-largest cryptocurrency and the 10th-largest by total value locked. Kendrick believes the token is well-positioned to profit from incremental improvements and is a strong candidate for a big impact. He expects AVAX to more than 10x its current price by the end of 2029, reaching $250.
According to a new report from Standard Chartered, Avalanche (AVAX) is poised to outpace both Bitcoin and Ethereum by the end of 2029, marking a notable milestone in the cryptocurrency’s rapid ascendance.
