Standard Chartered Bank Predicts AVAX Token Will Outperform Bitcoin and Ethereum by 2029

Geoff Kendrick, who heads the Digital Assets Research division, said that the token could rise to $55 by 2025, $100 for 2026, $150 for 2027, $200 for 2028, and $250 by the end of 2029.

Standard Chartered Bank has made a bold prediction, forecasting that the Avalanche (AVAX) token will outpace Bitcoin (BTC) and Ethereum (ETH) by 2029.

According to Geoff Kendrick, head of Digital Assets Research at Standard Chartered, the token could hit $55 by 2025, $100 by 2026, $150 by 2027, $200 by 2028, and $250 by the end of 2029.

Kendrick highlighted Avalanche's unique ability to scale through subnets, or sidechains, which differentiates it from Ethereum or Solana. These subnets can be customized for specific use cases, such as DeFi, gaming, or Web3 projects.

"While it is still too early to tell whether the new subnet approach will work, we think the fact that one-quarter of active subnets are already Etna-compatible is encouraging," Kendrick noted in his latest research report.

His predictions have sparked a mixed reaction on Crypto Twitter, with some seeing it as a bullish sign while others are skeptical of the bank's overly optimistic predictions.

On the price front, Avalanche is currently underperforming the global cryptocurrency market, falling by 14.80 in the last seven days. At press time, AVAX is trading at $18.78. However, the token’s trading volume stands at $534 million, representing a 69.40 increase from the past day and signaling a recent rise in market activity.

Despite the mixed performance, AVAX has secured institutional support, signaling their confidence in the layer 1 potential.

Recently, the biggest AUM, Grayscale, filed for an Avalanche ETF with Nasdaq. Grayscale cited Avalanche’s subsecond finality, low fees, and a trusted advisor approach for high-quality asset issuance as the reason behind its filing. Its L1s offer deep, extensive customization functionality, ideal for institutions, enterprises, and projects needing compliance-ready flexibility.

The proposed ETF would directly hold AVAX tokens. Grayscale would oversee the ATrust with a 2.5% fee. A major crypto asset manager, Grayscale, is a known player in the ETF scene. Other firms, like VanEck, are also pursuing Avalanche ETF listings.