As Donald Trump's tariff storm continues to disrupt markets, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, has made bold predictions about which cryptocurrencies could surge in the near future.

According to Kendrick, Bitcoin and Avalanche (AVAX) are the “winners,” while Ethereum is notably absent from the list. He predicts that AVAX could rise tenfold by the end of 2029, signaling a promising outlook for its blockchain ecosystem.

Donald Trump's tariff storm has been a hot topic in recent months, and it seems that it could continue for some time yet. However, there are other market-moving events that are worth considering.

One interesting perspective comes from Geoff Kendrick, Head of Digital Asset Research at Standard Chartered. According to him, Bitcoin and Avalanche (AVAX) are the “winners” in the near-term crypto market, while Ethereum is notably absent from the list.

According to Kendrick, AVAX could rise tenfold by the

Edge Of Trump Term Signals Bitcoin At $500,000

For the world’s largest cryptocurrency, investor accessibility and volatility levels are two key factors that will influence Bitcoin’s long-term price.

As U.S. regulators inch closer to approving spot Bitcoin ETFs and Trump's administration begins its third term, we can expect to see a gradual reduction in volatility once the ETF market matures, increasing Bitcoin’s share of an optimal gold-BTC portfolio. Access plus lower volatility could see Bitcoin reach the $500,000 level before Trump leaves office.

Other experts also share a bullish outlook on Bitcoin's price after Liberation Day. They believe that the cryptocurrency will continue its upward trajectory, driven by factors such as a weakening U.S. dollar, increasing M2 money supply, and potential Federal Reserve rate cuts.

One analyst, Arthur Hayes, former CEO of BitMEX, has even projected that Bitcoin could soar to $250,000 by the end of this year. However, Standard Chartered's forecast suggests that Bitcoin's gains might be more moderate in the near term.

AVAX Could Rise 10x By 2029

Apart from Bitcoin, Kendrick also identifies Avalanche (AVAX) as a high-growth candidate.

AVAX's potential is linked to the Etna upgrade, which has significantly reduced the cost of setting up a subnet on Avalanche. Currently, one-quarter of Avalanche subnets are compatible with Etna. This has led to a surge in developers on Avalanche, with many shifting from Ethereum Layer 2 solutions.

As a result, we see AVAX outperforming both Bitcoin and Ethereum in terms of relative price gains in the coming years, reaching a level around $250 by end-2029, more than 10x today’s price.

Data from the AVAX network shows that by 2025, Avalanche is expected to process over 4 million daily transactions and maintain a monthly transaction volume above 100 million, three times the 2024 average.

This signals the efficiency of Ava Labs's efforts to expand the blockchain's throughput and attract more users and developers to the network.

Layer 2 Solutions Fragment Ethereum Ecosystem

Unlike Bitcoin and AVAX, Ethereum faces a less optimistic outlook. Kendrick has revised his end-2025 ETH price forecast downward to $4,000, a sharp drop from his previous $10,000 estimate.

According to him, Layer 2 blockchains, which are intended to enhance Ethereum's scalability, have instead harmed its ecosystem.

“Layer 2 blockchains were meant to improve ETH scalability, but we estimate that Base (a key Layer 2) has removed $50 billion from ETH’s market cap. Assuming no change in direction from the Ethereum Foundation, we see ETH-BTC continuing to decline. We now expect ETH-USD at $4,000 by end-2025,” Kendrick wrote in an email to BeInCrypto.

At the time of writing, ETH/BTC has dropped to a new low of 0.021 BTC, its lowest level since 2021.

Analysts highlight that the increasing number of Layer 2 solutions has fragmented Ethereum's ecosystem, which has contributed to its disappointing price performance over the past year.

Standard Chartered's forecast paints a divided picture of the post-Liberation Day crypto market. Bitcoin remains dominant due to its increasing accessibility and stabilizing volatility.

Meanwhile, Avalanche emerges as a strong contender in the EVM blockchain space. Ethereum, despite its foundational role, may face significant challenges unless it addresses its current limitations.