Avalanche (AVAX/USD) Could Deliver the Strongest Gains Among Major Digital Assets

Avalanche (AVAX/USD) could deliver the strongest gains among major digital assets in the coming years, according to Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered.

According to Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, Avalanche (CRYPTO: AVAX) could be poised for the strongest gains among major digital assets in the coming years.

What Happened: In a research note, Kendrick anticipates a tenfold surge in AVAX by the end of 2029, outperforming both Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in relative price growth.

“We see AVAX increasing 10x by end-2029, outpacing both BTC and ETH gains, as architectural changes following December 2024’s Etna upgrade eliminate the cost barrier to launching subnets and drive strong early signals for Avalanche’s growth.”

The price target outlined in the bank’s forecast places AVAX at approximately $250 by the close of 2029, compared to its current level near $20.

Kendrick’s bullish view stems from Avalanche’s architectural shift after the Etna upgrade, which eliminated the cost barrier to launching subnets—customizable, application-specific sidechains that scale the network.

“The cost of establishing a subnet was slashed to close to zero with the removal of the AVAX staking requirement, previously placing the subnet launch cost at $225,000-$450,000.”

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Why It Matters: The report highlights strong early signals for Avalanche’s growth. A quarter of all subnets are now Etna-compatible, and developer activity is rising, particularly from teams migrating over from Ethereum Layer-2 solutions.

Avalanche’s EVM compatibility facilitates this transition, enabling builders to transfer tooling and code with minimal friction.

“We think the current development momentum is likely to continue, supporting activity growth on Avalanche and driving AVAX price gains,” Kendrick stated.

While the note acknowledges AVAX’s high volatility—three-month volatility is close to 100%, nearly double that of Bitcoin—Kendrick believes its smaller market capitalization means incremental network improvements can have a larger-than-expected impact on price performance.

Standard Chartered’s price targets forecast AVAX steadily climbing year over year, hitting $55 in 2025 and doubling annually to reach $250 in 2029.

This trajectory implies increasing investor confidence in Avalanche’s unique scaling strategy and potential leadership among Ethereum-compatible (EVM) blockchains.