- AVAX crypto trades in its accumulation zone, as Standard Chartered targets $250 by 2029.
- Ethereum weakens as Layer 2s siphon value; AVAX network growth continues accelerating.
Geoffrey Kendrick of Standard Chartered has labeled Bitcoin [BTC] and Avalanche [AVAX] as the standout winners for the next market cycle. Surprisingly, Ethereum [ETH] was excluded from this list.
According to Kendrick, AVAX could rise tenfold, reaching $250 by 2029, fueled by increasing adoption and technical improvements.
He forecasted a progressive rally for AVAX—$55 by 2025, $100 by 2026, $150 by 2027, $200 by 2028, and finally $250 by the end of 2029.
With AVAX currently trading near $20, this would represent an astonishing 1,200% gain.
What does the AVAX chart reveal?
The AVAX/USDT chart showed that the token was trading around its long-term accumulation zone, hovering between $15 and $20 at press time.
This range has held firm as support for months. Historical price action indicated that breakouts from this area have previously triggered substantial rallies.
According to current projections, the price may retest the $38 resistance zone, then break toward $55, Kendrick’s year-end target for 2025.
The chart structure supports this trajectory, especially if AVAX maintains strength around its current base.
Therefore, with accumulation intact and strong institutional forecasts backing it, AVAX appears well-positioned for a mid-term breakout.
Source: TradingView
How fast is Avalanche’s network growing?
Avalanche’s network activity is accelerating rapidly. By 2025, it is projected to handle over 4 million daily transactions and sustain a monthly volume above 100 million—triple the 2024 average.
This growth is largely attributed to the Etna upgrade, which has slashed the cost of launching subnets. Notably, one-quarter of all AVAX subnets now run on Etna, attracting developers and users alike.
As usage surges, the network becomes more valuable, creating a strong foundation for price appreciation.
Source: AVAX Network
Why is Ethereum falling behind?
While Bitcoin and AVAX show strength, Ethereum appears to be weakening. Kendrick has revised his ETH year-end 2025 target down to $4,000, a sharp drop from his earlier $10,000 estimate.
He cites Layer 2 chains like Base for siphoning value away from Ethereum’s core ecosystem—removing over $50 billion in market cap.
Technically, Ethereum has been underperforming Bitcoin for nearly a year. The ETH/BTC chart displays a consistent descending trendline, confirming the asset’s relative weakness.
No signs of reversal are visible yet, further validating Kendrick’s cautious stance on ETH.
Source: TradingView