Standard Chartered has turned its attention to Avalanche, predicting that the blockchain’s native token, AVAX, could surge to $250 by 2029—more than a tenfold increase from its current price of around $20.
The bank sees Avalanche as a potential leader among Ethereum-compatible chains, particularly after its recent upgrades.
Geoffrey Kendrick, head of digital assets research at Standard Chartered, highlights the importance of Avalanche’s recent Etna upgrade, which significantly reduces the cost and complexity of launching subnets.
Previously, creating a subnet could cost up to $450,000, but the upgrade has made the process nearly free. This change has attracted developers, some of whom are moving from Ethereum’s Layer 2 solutions to Avalanche, thanks to its compatibility with Ethereum code.
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The upgrade also brought improvements to transaction costs during low-traffic periods, though fees can still be higher compared to some Ethereum-based Layer 2 networks like Arbitrum. Kendrick suggests that Avalanche’s growth could benefit from attracting entirely new applications rather than relying on porting existing ones, especially in areas like gaming and consumer tools.
Looking ahead, Kendrick predicts AVAX will reach $55 by 2025, $100 by 2026, and continue climbing to $250 by 2029. Despite its potential, he notes that Avalanche remains highly volatile—almost twice as much as Bitcoin.
Avalanche’s appeal is also growing beyond crypto. Recently, BlackRock added Avalanche to its $1.9 billion tokenized fund, BUIDL, signaling confidence in its real-world asset tokenization capabilities. Additionally, the Avalanche Foundation is pushing innovation with two initiatives: a $40 million grant program (Retro9000) and a $15 million fund for AI projects (InfraBUIDL), aimed at sustaining long-term ecosystem growth.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/avalanches-avax-predicted-to-surge-tenfold-by-2029-says-standard-chartered/