The Avox Avalanche token is ready for major gains in the coming years which should exceed the already optimistic prospects for Bitcoin and Ether, according to Geoff Kendrick of Standard Chartered.
“The Unique Thing About Avalanche is How It is Attempting to Achieve Scale. Unlike Ethereum or Solana, Avalanche (Avx) Uses a Set of Subnets, or Sidechains,” Kendrick Said in a note on wednesday, initiating Coverage on Avx with a $ 55 Price Target for the End of 2025, $ 100 for 2026 $ 150 for 2027, $ 200 for 2028 and $ 250 by the Completion of 2029.
“Although it is still too early to say if the new subnet approach will work, we believe that the fact that a quarter of the active subnets is already compatible by ETNA is encouraging.”
He also underlined the growing developer number of the network since its upgrade in December, which reduced the cost of establishing a subnet close to zero.
Avalanche, which is at a market capitalization of $ 9 billion, is currently the 15th largest cryptocurrency by this metric, making it a large candidate to enjoy a large impact, even thanks to additional improvements, according to Kendrick. Among the blockchains, it is the tenth larger by locked total value (TVL).
“Consequently, we see Avox surpass both Bitcoin and Ethereum in terms of pricing gains in the coming years, reaching a level around 250 USD by the end of 2029, more than 10 times the price of today.”
Before the December upgrade, the Avalanche Foundation, the Avx transmitter, raised $ 250 million for the sale of token, led by Galaxy Digital, Dragonfly and Parafi Capital.
