AVAX: 1200% Surge & Bitcoin Beat Predicted by 2029
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Big news from the financial world: Standard Chartered, a global banking heavyweight, has released its new five-year price predictions for three major cryptocurrencies: Avalanche (AVAX), Bitcoin (BTC), and Ethereum (ETH). Their latest forecasts suggest that Avalanche is expected to make significant headway against both Bitcoin and Ethereum by 2029.
Ryan Rasmussen, the Head of Research at Bitwise, pointed out these ambitious targets on X. He highlighted a chart outlining the bank’s projections, noting, “Global banking giant Standard Chartered just dropped their 5-year price targets for Bitcoin, Ethereum, and Avalanche.”
So, what are they predicting? Standard Chartered anticipates Avalanche (AVAX) climbing to $55 by the close of 2025, then hitting $100 in 2026, $150 in 2027, $200 in 2028, and ultimately reaching $250 by the end of 2029. If this plays out, we’re looking at a potential surge of over 1,200% from its current trading price of around $20!
Bitcoin (BTC) also got an updated forecast. The bank now projects BTC to jump from $200,000 in 2025 to $300,000 in 2026, followed by $400,000 in 2027, and finally peaking at $500,000 in 2028—a level they expect it to maintain through 2029.
For Ethereum (ETH) enthusiasts, Standard Chartered’s outlook predicts the token reaching $4,000 in 2025, $5,000 in 2026, $6,000 in 2027, and $7,500 by 2028, with no changes anticipated in 2029. This indicates a steady climb, though perhaps less dramatic compared to Avalanche’s projected growth.
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To give us a clearer picture of relative performance, the bank also provided ratio metrics showing how AVAX could stack up against BTC and ETH. They foresee the BTC-to-AVAX ratio, which tells us how many AVAX it takes to equal one BTC, dropping from 3,636 in 2025 to 2,000 in 2029.
This downward trend suggests AVAX is expected to outpace Bitcoin’s gains over this period. Similarly, the ETH-to-AVAX ratio is projected to decrease from 73 to 30 in the same timeframe, indicating a similar trend of AVAX outperforming Ethereum.
Standard Chartered’s Bullish Case For Avalanche
Standard Chartered isn’t just throwing out numbers; they’re initiating coverage of Avalanche with a strong bullish stance! They believe AVAX could skyrocket from its current price around $20 to $250 by the end of 2029. Geoffrey Kendrick, the bank’s global head of digital assets research, explained in an email to The Block on Wednesday, “One positive of the tariff noise is that it gives us a chance to re-set and pick winners for the next upswing in digital asset prices… And I think Avalanche will be another winner, perhaps the winner in EVM [Ethereum Virtual Machine] chains.” He shared this insight while discussing his latest report.
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Kendrick emphasized that Avalanche’s approach to scaling, especially after the Etna upgrade – also known as Avalanche9000 – sets it up for long-term success. This upgrade, rolled out in December 2024, made launching subnets (now called Layer 1 blockchains by Avalanche) significantly cheaper. Setup costs plummeted from as much as $450,000 to practically nothing.
He further pointed out that these changes seem to be attracting developers. “Already, a quarter of Avalanche’s active subnets are Etna-compatible, and the number of developers has jumped 40% since the upgrade,” Kendrick noted.
He also mentioned that some developers are choosing Avalanche over Ethereum Layer 2 solutions. This is due to Avalanche’s compatibility with Ethereum code and the lower barrier to entry for launching new subnets or L1 chains. While transaction fees on Avalanche can still be higher than some Ethereum L2s like Arbitrum, Kendrick thinks attracting entirely new types of applications, particularly in areas like gaming and consumer-facing tools, will be crucial for Avalanche’s future growth.
“Consequently, we anticipate AVAX will outperform both Bitcoin and Ethereum in terms of relative price gains in the years ahead,” Kendrick stated, while also acknowledging that Avalanche tends to be more volatile than BTC.
As of writing, BTC is trading at $83,334.
Featured image created with DALL.E, chart from TradingView.com
