Avalanche to Hit $250 and Outperform Bitcoin by 2029, Says Standard Chartered’s Geoff Kendrick

Avalanche (AVAX) is drawing attention in the crypto space, and analysts are predicting it will increase significantly within the next few years. Standard Chartered released a report stating that AVAX could reach as high as $250 by the end of 2029, which is a remarkable increase of 1,326% from the current price(over 13x). This prediction is even more optimistic than Bitcoin’s expected growth, as Standard Chartered estimates that Bitcoin will only reach about $500,000 in the same timeframe, nearly a 500% increase. Avalanche claims to have a unique method of scaling and gaining popularity with developers, which makes it an exciting project in the blockchain sector.

What Makes Avalanche Different?

One of the biggest reasons analysts are so bullish on Avalanche is its unique scaling strategy. Unlike traditional Layer-1 blockchains, Avalanche uses dedicated app networks (previously called subnets) to boost transaction speeds and slash costs. This model gives developers the flexibility to create their own blockchain networks while still benefiting from Avalanche’s security and efficiency.

Last year’s Etna Upgrade made it even cheaper to launch new projects on Avalanche, and developers have been taking notice. Geoff Kendrick, global head of digital assets research at Standard Chartered, emphasized this in his report, saying, “Avalanche’s current small market cap means that incremental development improvements can have a big impact. As a result, we see AVAX outperforming both Bitcoin and Ethereum in terms of relative price gains.” In other words, even small technological advancements could lead to huge price gains for AVAX.

Growing Avalanche Adoption

Avalanche has been making moves to challenge Ethereum by offering a more efficient and cost-effective ecosystem. Thanks to its upgrades and developer-friendly infrastructure, more decentralized finance (DeFi) applications are launching on its network. This trend is expected to continue as developers look for cheaper, faster alternatives to Ethereum. As Avalanche’s ecosystem grows, so does its potential for price appreciation.

Kendrick reinforced this view, stating, “We think the current development momentum is likely to continue, supporting activity growth on Avalanche and driving AVAX price gains.” He also pointed out that while it’s still early to tell if Avalanche’s Layer-1 approach will dominate, the fact that a quarter of active Layer-1 app networks are already Etna-compatible is a promising sign.

How High Can AVAX Go?

The report from Standard Chartered provides a bold timeline for AVAX’s growth. Based on the bank’s estimates, AVAX is expected to increase to $55 by the end of 2025, followed by $100 in 2026, $150 in 2027, $200 in 2028, and $250 in 2029, if their expectations are correct. If their estimates are accurate, AVAX would not only beat $145 (which is AVAX’s all-time high from 2021), but it once again would be one of the best-performing assets in all of crypto.

For investors, this certainly suggests that Avalanche is a project to pay attention to. If the Avalanche adoption continues and its technical updates deliver on their promise, then AVAX may be a contender for one of the biggest success stories in the next bull run in crypto.

Conclusion

Avalanche is making waves for its potential to outperform Bitcoin in percentage gains by 2029. Standard Chartered is bullish on AVAX, citing its advanced blockchain technology and ability to attract developers through smart contracts on a proof-of-stake network. While AVAX currently trades well below its projected future value, growing Avalanche adoption and ongoing network improvements could drive significant price gains.

That said, volatility and regulatory risks remain factors to watch. Still, Avalanche has momentum, and whether it beats Bitcoin’s growth remains to be seen. AVAX price predictions continue to be a hot topic among investors, with many keeping a close eye on its potential surge. As the network expands and Avalanche adoption increases, traders should watch key levels for opportunities in the market.