According to an analysis by Standard Chartered, the price of the Avalanche (AVAX) token has the potential to reach $250 by 2029. A significant factor for the asset’s value growth was the recent Etna upgrade, which will impact the development of the blockchain.
This is reported by Finway
Jeffrey Kendrick, head of the digital asset research department at Standard Chartered, expressed an optimistic forecast, believing that the price of AVAX could increase more than tenfold. As Kendrick noted, the main driver of this growth was the Avalanche9000 upgrade, which significantly reduced the costs of launching new blockchains (subnets) in the network, lowering the staking threshold from $450,000 to nearly zero.
AVAX Development Prospects
According to the expert, with the Etna upgrade, the number of active subnets has increased by 25%, and the number of developers has grown by 40%. Some projects are migrating from other layer two solutions, seeking more favorable conditions on Avalanche.
Kendrick also noted that although fees on Avalanche remain higher than in some solutions on Ethereum, new L1 subnets may attract new projects in areas such as gaming and consumer applications. The price of AVAX is expected to grow gradually:
- $55 by the end of 2025;
- $100 in 2026;
- $150 in 2027 (new historical high);
- $200 in 2028;
- $250 by the end of 2029.
“We believe that AVAX will outpace Bitcoin and Ethereum in growth rates in the coming years,” Kendrick emphasized.
Another positive signal for the Avalanche ecosystem was the support of the tokenized BUIDL fund by BlackRock, which manages assets worth $1.9 billion. The fund holds $52 million in the Avalanche network, which could help attract greater liquidity in the future.
With the Etna upgrade, the increase in the number of developers, and the involvement of major financial players, Avalanche has every chance of becoming a leader among EVM-based blockchains, Kendrick believes.
At the time of preparing this material, the cryptocurrency AVAX is trading at $18.43, according to TradingView.