Standard Chartered (AVAX)

What if one of the largest banking groups bet on an outsider rather than the market king? In a report that shakes up certainties, Standard Chartered

In a surprising move, Standard Chartered, one of the largest banking groups, has placed its bet on an outsider rather than the market king. In a report that upends certainties, the British bank names Avalanche (AVAX) as the token to watch by 2029, with performance exceeding that of bitcoin.

This bold bet by a major financial institution highlights a new vision of the crypto landscape, focusing on modular and enterprise-focused blockchains rather than the historical giants. A strong signal that could redefine upcoming investment strategies.

Standard Chartered sees AVAX outperforming Bitcoin

A few days ago, Standard Chartered published a report with an optimistic outlook on cryptocurrencies, projecting that bitcoin will reach $500,000 by the end of 2029. However, an even more surprising prediction is that Avalanche’s AVAX token will soar to $250.

This projection from the British bank stands in stark contrast to the current price of $18 for AVAX, implying an astronomical increase of 1,326%. In comparison, bitcoin’s price target represents a gain of +500%. The emphasis here is on relative performance, with AVAX being presented as an asset with the potential for greater performance than BTC or ETH.

“We believe that AVAX will outperform bitcoin and Ethereum in terms of relative gains,” says Geoff Kendrick, global head of crypto research at Standard Chartered.

The bank’s note is based on a well-structured numerical projection, with a year-by-year price evolution scenario for AVAX. The forecasts announced in the report are as follows:

This upward trajectory would be driven by the acceleration of the adoption of the Avalanche network and the strengthening of its ecosystem. It is also noted that AVAX had reached a peak of nearly $145 in 2021, a historically high level, but still below the current ambitions projected by the bank. This comparison serves as a benchmark in analyzing AVAX’s ability to regain (and exceed) its former highs.

A technological and institutional dynamic in motion

Beyond mere numerical forecasts, Standard Chartered bases its optimism on recent structural advancements within the Avalanche network, particularly the rise of its App Chains, previously referred to as subnets.

These autonomous sub-networks allow projects to deploy their own blockchain and leverage Avalanche’s infrastructure. Such flexibility is at the heart of the update named Etna, launched last December. According to the bank, “the cost of creating a layer 1 on Avalanche has drastically fallen after this Etna update,” making the platform much more attractive for developers.

This transformation has already manifested in increasing adoption: about a quarter of active L1s would currently be compatible with Etna, a figure presented as encouraging in the report.

Thus, this dynamic could be further accelerated thanks to another important element: the growing demand for a financial product structured around AVAX. Nasdaq has indeed filed a form 19b-4 with the U.S. SEC to authorize the listing of an AVAX ETF issued by Grayscale.

This product, if validated, could open the door to massive institutional exposure to the token. Additionally, the bank specifies that Coinbase Custody would be appointed as the custodian of the fund.

All of these elements place Avalanche in a strategic position at the crossroads of several underlying dynamics: technological innovations, developer interest, and structuring of regulated financial products. While some uncertainties remain, particularly regarding the long-term viability of the App Chain model or the regulatory outcome of the ETF, the current trend shows an acceleration of activity on the network. As Geoff Kendrick notes, “the current development dynamic should continue, supporting the growth of activity on Avalanche and fueling the rise of the AVAX price.”