The AVAX token from Avalanche is expected to experience significant growth in the upcoming years, surpassing optimistic projections for both Bitcoin and Ether, as indicated by Geoff Kendrick from Standard Chartered.
“What sets Avalanche apart is its approach to scalability. In contrast to Ethereum or Solana, Avalanche (AVAX) employs a network of subnets, or sidechains,” Kendrick explained in a recent report, establishing a price target of $55 for the end of 2025, $100 for 2026, $150 for 2027, $200 for 2028, and $250 by the end of 2029.
“While it’s premature to determine the effectiveness of this new subnet strategy, the fact that a quarter of the active subnets are already compatible with Etna is a positive sign.”
He also noted the increase in developers on the platform since its December upgrade, which significantly reduced the cost of creating a subnet to nearly zero.
Currently, Avalanche holds a market cap of $9 billion, making it the 15th largest cryptocurrency by this measure. Kendrick believes it is well-positioned for major benefits even through small enhancements. Among blockchains, it ranks as the tenth largest in terms of total value locked (TVL).
“Consequently, we anticipate AVAX will outperform both Bitcoin and Ethereum regarding relative price increases over the next few years, targeting around USD 250 by the end of 2029, which would be more than ten times its current value.”
In advance of the December upgrade, the Avalanche Foundation, responsible for issuing AVAX, successfully raised $250 million in a token sale, backed by firms like Galaxy Digital, Dragonfly, and ParaFi Capital.