A financial institution has begun monitoring Avalanche (AVAX) with an optimistic long-term forecast, predicting a tenfold price surge by 2029.
This initiative comes amid increasing momentum in the cryptocurrency sector as investors reevaluate potential leaders due to economic uncertainties and evolving technological foundations.
In a note shared on April 2, the bank’s head of digital assets, Geoffrey Kendrick, referred to Avalanche as “the standout among EVM chains,” highlighting its robust scalability plans and growing interest from developers, particularly in light of Ethereum’s (ETH) recent upgrades.
Kendrick stated:
“One benefit of the current tariff discussions is the opportunity it provides to reevaluate and identify the winners for the upcoming rise in digital asset values. I believe Bitcoin will be one of those winners… and I expect Avalanche to be another.”
Etna Upgrade
Avalanche, a smart contract platform utilizing Ethereum-compatible tools, has consistently positioned itself as a high-performance alternative to Ethereum (ETH).
Kendrick noted that the network’s distinct architecture, centered around customizable subnets, has gained significant importance following the Etna upgrade in December 2024.
This upgrade eliminated the necessity for AVAX staking to create subnets, thus lowering the cost and complexity associated with launching projects on Avalanche.
He pointed out that early indicators of success are already apparent, with roughly a quarter of all subnets now being EVM-compatible, and several developers have transitioned from Ethereum’s Layer-2 environment to Avalanche.
“This scaling solution received a substantial boost. We anticipate that enhanced scalability will foster increased activity and value for the Avalanche network.”
The analysis also mentioned Avalanche’s modular framework and the growth of its ecosystem as key components supporting long-term price growth.
AVAX Expected to Surpass BTC and ETH
The bank’s price targets suggest that AVAX could rise from its current price of approximately $35 to $120 by the end of 2025, $207 in 2026, $269 in 2027, and eventually hit $350 by 2030.
This trajectory indicates a potential tenfold return over the next five years, surpassing the projected gains for both Bitcoin and Ethereum.
Bitcoin (BTC) is anticipated to increase from its current price range to $200,000 by 2025 and $250,000 by 2030. In comparison, Ethereum’s outlook is more conservative, with targets set at $4,000 in 2025 and $8,000 by 2030.
Kendrick has previously expressed concerns regarding Ethereum’s structure in a different note titled “Midlife Crisis,” casting doubt on its long-term viability amid the rise of alternative Layer 1 solutions and fragmentation within the ecosystem.
In contrast, Avalanche’s efficient scaling strategy, rapid finality, and increasing appeal among developers position it as a significant beneficiary of Ethereum’s traffic and cost issues.
Kendrick remarked:
“I appreciate the scalability options AVAX presents, particularly after the Etna upgrade.”
Avalanche Market Data
As of the latest update 11:11 pm UTC on Apr. 3, 2025, Avalanche ranks #15 by market capitalization, with its price down 2.87% in the past 24 hours. The market cap stands at $7.54 billion with a 24-hour trading volume of $379.69 million. Learn more about Avalanche ›
Crypto Market Summary
As of the latest update 11:11 pm UTC on Apr. 3, 2025, the total cryptocurrency market is valued at $2.65 trillion, with a 24-hour volume of $106.12 billion. Bitcoin dominance is currently at 61.87%. Learn more about the crypto market ›
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