Standard Chartered Predicts 10x Avalanche Price Increase by 2029

Standard Chartered has initiated coverage on Avalanche (AVAX) with a bullish long-term outlook, forecasting a 10x price increase by 2029. This move comes as market participants reassess the winners in the digital asset space amidst macroeconomic uncertainty and shifting technology fundamentals.

The bank’s head of digital assets, Geoffrey Kendrick, described Avalanche as “the winner in EVM chains,” highlighting its strong scalability roadmap and rising developer adoption, especially following Ethereum’s (ETH) latest upgrade. Kendrick noted that the current market conditions provide an opportunity to identify the next winners in digital asset prices, with Bitcoin and Avalanche being two of the top contenders.

Avalanche, a smart contract platform built with Ethereum-compatible tooling, has positioned itself as a high-speed alternative to Ethereum. According to Kendrick, the network’s unique architecture, built around customizable subnets, has gained new relevance after the Etna upgrade in December 2024. This upgrade removed the requirement for AVAX staking when establishing subnets, effectively reducing the cost and complexity of launching on Avalanche.

Early signs of success are already visible, with approximately one-quarter of all subnets now being EVM-compatible, and several developers having migrated from Ethereum’s Layer-2 ecosystem to Avalanche. Kendrick highlighted that this scaling solution received a significant boost, expecting improved scalability to drive activity and value to the Avalanche network. The research also cited Avalanche’s modular framework and active ecosystem growth as supporting factors for long-term price appreciation.

Standard Chartered’s price targets show AVAX climbing from its current price of around $35 to $120 by the end of 2025, $207 in 2026, $269 in 2027, and ultimately reaching $350 by 2030. Such a trajectory implies a 10x return over the next five years, outpacing the firm’s projected gains for Bitcoin and Ethereum. Bitcoin is expected to rise from its current range to $200,000 by 2025 and $250,000 by 2030. Meanwhile, Ethereum’s forecast is more muted, with targets set at $4,000 in 2025 and $8,000 by 2030.

Kendrick previously expressed skepticism about Ethereum’s long-term competitiveness amid rising Layer 1 alternatives and ecosystem fragmentation. In contrast, Avalanche’s streamlined scaling approach, fast finality, and growing traction among developers make it a prime beneficiary of Ethereum’s congestion and cost issues. Kendrick emphasized his preference for the scalability solution AVAX offers, especially post-Etna upgrade.