Standard Chartered Forecasts 10x Rally for Avalanche’s AVAX by 2029

Standard Chartered Bets Big on Avalanche: AVAX Could Hit $250 by 2029, Says Analyst

Avalanche’s AVAX token could be one of the standout performers in the crypto space over the next five years, according to a bullish new forecast from Standard Chartered’s head of digital assets research, Geoff Kendrick.

In a research note released Wednesday, Kendrick outlined a long-term growth thesis for AVAX, setting ambitious price targets that culminate at $250 by the end of 2029, representing a more than 10x gain from current levels. “Avalanche is tackling scalability with a unique and potentially game-changing approach,” he wrote.

Unlike Ethereum and Solana, Avalanche utilizes subnets — independent blockchains that operate within the broader network. This design, Kendrick said, offers flexibility and scalability without compromising security. He also highlighted that one-quarter of active subnets are already Ethereum-compatible, a promising sign for broader interoperability.

The December protocol upgrade, which slashed the cost of deploying subnets to near zero, has already attracted a surge in developer interest, a trend Kendrick sees as essential to long-term value creation.

With a current market cap of roughly $9 billion, Avalanche ranks as the 15th largest cryptocurrency, but Kendrick believes its modular design and growing adoption could fuel exponential gains. “Its relatively modest size today makes it well-positioned for outsized returns as incremental improvements compound over time,” he noted.

Ahead of that upgrade, the Avalanche Foundation raised $250 million in a funding round led by major investors including Galaxy Digital, Dragonfly, and ParaFi Capital — further validating institutional belief in the network’s potential.

If Avalanche continues to execute on its roadmap and adoption scales with the subnet model, Kendrick says AVAX could not only outperform the broader crypto market — it could redefine how Layer 1 networks grow.

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