Standard Chartered has launched coverage of Avalanche (Avax) with a bullish long-term outlook, predicting a 10-fold price rise by 2029.
The move follows a growing momentum in the digital asset space as market participants begin to reevaluate winners in the wake of macroeconomic uncertainty and technological foundations.
In a memo shared with encryption and on April 2, bank’s digital asset leader Geoffrey Kendrick described the avalanche as “the winner of the EVM chain,” highlighting a strong scalability roadmap and developer adoption, particularly following the latest upgrades to Ethereum (ETH).
Kendrick wrote:
“One positive noise in tariff noise is that it gives you the opportunity to reset and choose winners for the next rise in digital asset prices. I think Bitcoin is the winner… I think Avalanche will be something else.”
Etna Upgrade
Avalanche, a smart contract platform built on Ethereum compatible touring, has established itself as a fast alternative to Ethereum (ETH).
According to Kendrick, the unique architecture of the network, built around customizable subnets, gained new relevance in December 2024 after an ETNA upgrade.
Etna upgrades removed the Avax staking requirements when establishing subnets, effectively reducing the cost and complexity of launches in an avalanche.
Kendrick emphasized that early signs of success are already visible. Approximately a quarter of all subnets are EVM compatible, with several developers already moving from Ethereum’s Layer-2 ecosystem to an avalanche.
“This scaling solution has been a huge boost. We expect improved scalability and activity and value will drive the avalanche network.”
This study also cited Avalanche’s modular framework and aggressive ecosystem growth as a supporter for long-term price increases.
Avax is projected to surpass BTC and ETH
Standard Chartered’s price target shows that Avax will reach around $35 to $120 from its current price by the end of 2025, $207 in 2026, $269 in 2027 and $350 by 2030.
Such a trajectory means a 10x return over the next five years, surpassing the company’s forecast profits against Bitcoin and Ethereum.
Bitcoin (BTC) is expected to rise from its current range to $200,000 by 2025 and $250,000 by 2030. Meanwhile, the company’s Ethereum forecast is set at $4,000 in 2025 and $8,000 by 2030.
Kendrick previously flagged structural concerns about Ethereum in another memo entitled “Midlife Crisis,” expressing skepticism about its long-term competitiveness amidst rising layer 1 alternatives and ecosystem fragmentation.
In contrast, the streamlined avalanche scaling approach, rapid finality, and increased traction among developers make them a major beneficiary of Ethereum’s congestion and cost issues.
Kendrick wrote:
“I like the scalability solutions Avax offers, especially the post-Etna upgrades.”
When reporting 1:10pm, UTC on April 4, 2025Avalanche ranks 15th in terms of market capitalization, and prices are falling 1.14% Over the past 24 hours. Avalanche’s market capitalization is $7.4 billion, with a 24-hour trading volume of $318 million. Avalanche details›
When reporting 1:10pm, UTC on April 4, 2025the Crypto market totals $2.63 trillion, with a 24-hour volume of $977.8 billion. Bitcoin’s advantage is currently 62.06%. Crypto Market Details›
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