Standard Chartered Predicts AVAX Price Will Soar to $250 by 2029

Standard Chartered has released a report predicting significant price increases for Avalanche's AVAX token, which could see a rise to $250 by the end of 2029.

Standard Chartered has made a staggering prediction for the future of Avalanche’s native token, AVAX, in a recent report. The report, titled "The Token Standard: An Analysis of 25 Digital Tokens," predicts that AVAX could soar to an astounding $250 by the end of 2029.

This projection represents an enormous 1,326% increase from its current trading price of $18, according to the report.

To put this in perspective, the bank anticipates that Bitcoin (BTC) will reach approximately $500,000, which is nearly a 500% increase from its current value of around $82,650.

According to the report, a key factor driving Avalanche’s growth will be its unique strategy for network scaling.

It is used to create new "layer-1 application networks," which are also known as subnets. These subnets are fully customizable and can be tailored to specific use cases.

Standard Chartered anticipates that smaller moves will have a bigger impact on Avalanche due to its smaller market cap, leading to greater price performance compared to Bitcoin and Ethereum.

The report forecasts that AVAX will begin to experience significant momentum as early as this year.

The bank predicts that the token will reach a price of $55 by the end of 2025.

Further projections by the bank suggest that AVAX will hit $100 in 2026, $150 in 2027, $200 in 2028, and $250 in 2029.

Avalanche’s recent Etna Upgrade, which introduced enhanced support for its scaling solutions and reduced engagement costs, is expected to attract more developers to its network.

Despite its current position, AVAX reached a peak of nearly $145 in 2021. It is currently trading approximately 88% below that level.

The decentralized finance (DeFi) sector remains competitive, with various blockchains striving to improve transaction speeds and reduce costs to engage users and developers.

Discussing the implications of the Etna upgrade, Kendrick added: “It’s interesting to note that 25% of the active layer-1s are already Etna-ready, which is a positive sign for future development on the Avalanche network.”