AVAX Price Prediction: A 1,326% Surge Expected by 2029

AVAX Price: Why Avalanche is Poised for Huge Gains

AVAX Price– Standard Chartered has made bold predictions regarding the future of Bitcoin and Avalanche (AVAX), forecasting a significant increase in the price of both assets by the end of the decade. While Bitcoin is expected to rise 500% to $500,000, the bank believes that Avalanche could experience a much more substantial growth.

According to a report from Standard Chartered, Avalanche’s utility token, Avalanche (AVAX), could soar to $250 by the end of 2029, marking an astounding 1,326% increase from its current price of $18. In contrast, Bitcoin is predicted to reach $500,000, a 500% increase from its present value of around $82,650.

Geoff Kendrick, global head of digital assets research at Standard Chartered, attributes AVAX’s potential growth to Avalanche’s distinctive method of scaling its blockchain network. Through a system of dedicated Layer-1 app networks, known as subnets, Avalanche has created an efficient and scalable platform, which is expected to drive significant demand for the network. Kendrick explains, “Avalanche’s current small market cap means that incremental development improvements can have a big impact.”

Continued Development and Growth for Avalanche (AVAX)

Avalanche (AVAX) has been working aggressively to improve transaction speeds and reduce costs in a bid to attract more developers and users. The Etna Upgrade, completed in December, helped reduce the cost of setting up Layer-1 networks on Avalanche, further enhancing the network’s appeal. Kendrick notes, “The fact that one-quarter of active [L1s] are already Etna-compatible is encouraging.”

Standard Chartered expects Avalanche (AVAX) to see positive price action in the near term, with the bank forecasting a price of $55 by the end of 2025. Their projections include $100 in 2026, $150 in 2027, and $200 in 2028, culminating in the $250 price by 2029. Currently, AVAX is trading around $18, significantly below its peak of $145 in 2021, making it an intriguing asset for long-term growth.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.