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Avalanche's AVAX token is poised for large gains successful coming years that should outpace already bullish outlooks for some bitcoin and ether, according to Standard Chartered's Geoff Kendrick.
“The unsocial happening astir Avalanche is however it is attempting to execute scale. Unlike Ethereum oregon Solana, Avalanche (AVAX) uses a acceptable of subnets, oregon sidechains,” Kendrick said successful a enactment connected Wednesday, initiating sum connected AVAX with a $55 terms people for the extremity of 2025, $100 for 2026, $150 for 2027, $200 for 2028 and $250 by the completion of 2029.
“While it is inactive excessively aboriginal to archer whether the caller subnet attack volition work, we deliberation the information that one-quarter of progressive subnets are already Etna-compatible is encouraging.”
He besides pointed retired the network’s increasing developer fig since its upgrade successful December, which chopped the outgo of establishing a subnet adjacent to zero.
Avalanche, which stands astatine a $9 cardinal marketplace cap, is presently the 15th-largest cryptocurrency by that metric, making it a large campaigner to nett from a large interaction adjacent done incremental improvements, according to Kendrick. Among blockchains, it is the tenth-largest by full worth locked (TVL).
“As a result, we spot AVAX outperforming some Bitcoin and Ethereum successful presumption of comparative terms gains successful the coming years, reaching a level astir USD 250 by end-2029, much than 10x today’s price.”
Ahead of the December upgrade, the Avalanche Foundation, the issuer of AVAX, raised $250 cardinal successful a token sale, led by Galaxy Digital, Dragonfly and ParaFi Capital.
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