Standard Chartered Predicts $250 AVAX by 2029
Key Takeaways
British banking giant Standard Chartered sees significant potential in the cryptocurrency Avalanche (AVAX). According to a recent forecast, the AVAX price could rise to USD 250 by 2029 — representing a potential gain of over 1,100%. The main reasons behind this outlook include strong network growth, technical improvements, and increasing institutional support. In contrast, Ethereum (ETH) is reportedly losing relevance, according to the bank.
AVAX as a Potential Winner of the Next Crypto Cycle
Geoffrey Kendrick, Head of Crypto Research at Standard Chartered, names Avalanche alongside Bitcoin as one of the most promising projects for the coming years. His price forecast for AVAX predicts steady growth: USD 55 by the end of 2025, USD 100 by 2026, USD 150 by 2027, USD 200 by 2028, and finally USD 250 by the end of 2029.
For comparison: AVAX is currently trading at around USD 20. If the forecast proves accurate, this would mean a price increase of approximately 1,150%.
Technical Analysis: AVAX in a Stable Accumulation Phase
A look at the AVAX/USDT chart shows that the price has been moving in a stable accumulation zone between USD 15 and USD 20 for several months. This zone acts as strong support. Previous breakouts from this range have led to significant price gains.
Analysts see a potential short-term price target of USD 38. If AVAX breaks through this resistance, the path to the year-end target of USD 55 would be clear. The current chart structure supports this scenario.
Network Growth as a Price Driver
A key factor in the positive outlook is the strong growth of the Avalanche network. By the end of 2025, the network is expected to process over 4 million transactions per day — a threefold increase compared to 2024.
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A major driver is the so-called Etna upgrade. This technical improvement has significantly reduced the cost of creating subnets. Currently, about 25% of all Avalanche subnets are running on Etna. This attracts both developers and users and strengthens the blockchain’s fundamentals.
Ethereum Losing Ground
While AVAX and Bitcoin are gaining traction according to Standard Chartered, Ethereum is losing market share. Kendrick has significantly lowered his ETH forecast for the end of 2025 — from an initial USD 10,000 to now USD 4,000.
One reason: Layer-2 solutions like Base are increasingly pulling liquidity away from the Ethereum main network. Over USD 50 billion in market value is said to have migrated out of the Ethereum ecosystem.
Technical indicators also show weakness: the ETH/BTC chart has been in a downward trend for months. A reversal is currently not in sight.
Our Assessment
Standard Chartered’s forecast is ambitious but not unrealistic. Avalanche scores with technological advancements, a growing user base, and institutional interest. The stable price development in the accumulation zone suggests a solid foundation. If network growth continues as projected, mid-term price increases are plausible.
Ethereum remains an important player in the crypto sector but is currently losing relative strength. For investors seeking alternatives, AVAX could be an interesting option — especially with a view toward the coming years.
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