Standard Chartered has made a bold forecast for Avalanche’s native token, AVAX, predicting it could reach $250 by 2029, more than a 10x gain from current levels near $20.
Etna Upgrade Drives Developer Growth
The bank’s global head of digital assets research, Geoffrey Kendrick, highlighted Avalanche’s December 2024 Etna upgrade as a major catalyst. Known as Avalanche9000, the update removed the need for large staking deposits to launch subnets, lowering costs from $450,000 to nearly zero.
Since the upgrade, Kendrick notes, 25% of active subnets are now Etna-compatible, and developer activity has surged by 40%. Developers are also migrating from Ethereum Layer 2s to Avalanche, due to its Ethereum Virtual Machine (EVM) compatibility and improved efficiency.
AVAX Price Targets Through 2029
Kendrick predicts AVAX will reach $55 by the end of 2025, $100 in 2026, $150 in 2027, and $200 in 2028, before eventually climbing to $250 in 2029. He sees Avalanche outperforming both Bitcoin and Ethereum in terms of price growth, though he acknowledges its high volatility, which has reached levels twice that of Bitcoin.
Tokenization and Funding Incentives Add Momentum
Avalanche is gaining ground in the tokenization of real-world assets. BlackRock recently added Avalanche support to its $1.9 billion BUIDL fund, with $52 million in assets already bridged to the network.
To encourage further growth, the Avalanche Foundation has launched the $40 million Retro9000 grant program and a $15 million AI-focused initiative called InfraBUIDL.
