Standard Chartered Bank has recently started covering Avalanche (AVAX) with a positive long-term outlook, expecting a 10x price increase by 2029. This move comes as the digital asset space experiences increasing momentum due to macroeconomic uncertainty and shifting technology fundamentals. In a note shared with CryptoSlate, the bank’s head of digital assets, Geoffrey Kendrick, highlighted Avalanche as the winner in EVM chains, praising its strong scalability roadmap and growing developer adoption, especially after Ethereum’s latest upgrade.
Avalanche, a smart contract platform designed with Ethereum-compatible tooling, has positioned itself as a high-speed alternative to Ethereum. Kendrick emphasized the network’s unique architecture, particularly customized subnets, which became more relevant after the Etna upgrade in December 2024. This upgrade removed the need for AVAX staking when creating subnets, simplifying the process and reducing costs. As a result, a significant portion of subnets are now EVM-compatible, and developers are transitioning from Ethereum’s Layer-2 ecosystem to Avalanche, driving activity and value to the network.
Standard Chartered’s price targets for AVAX project significant growth, with the token expected to reach $120 by the end of 2025, $350 by 2030. This trajectory suggests a 10x return over the next five years, surpassing projected gains for Bitcoin and Ethereum. Kendrick expressed concerns about Ethereum’s long-term competitiveness in a separate note, citing its structural issues and ecosystem fragmentation. In contrast, Avalanche’s streamlined scaling approach, fast finality, and developer interest position it well to benefit from Ethereum’s congestion and cost problems.
At the time of writing, Avalanche is ranked #15 by market cap, with a market capitalization of $7.54 billion and a 24-hour trading volume of $379.69 million. Despite a slight 2.87% price drop over the past 24 hours, Avalanche remains a promising asset in the crypto market. The total crypto market is valued at $2.65 trillion, with a 24-hour volume of $106.12 billion and Bitcoin dominance standing at 61.87%. Investors are advised to keep an eye on Avalanche for its potential growth and performance in the evolving digital asset landscape.
