Avalanche’s Token Avax is ready for important profits in the coming years that should overcome the perspectives already bitcoin and for Ether, according to Gendrick’s Geeff Kendrick Chartered.
“The Unique Thing About Avalanche is How is attempting to Achieve Scale. Unlike Ethereum Or Solana, Avalanche (Avax) You use Set of Subnets, or Sidechains,” Kendrick Said in A Note On Wednesday, Initiating Coverage on Avax 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.
“While it is still too early to know if the new subnet approach will work, we believe that the fact that a quarter of the active subnets either compatible with ETNA is encouraging.”
He also pointed out the growing number of network developers from his update in December, which reduced the cost of establishing a subnet close to zero.
Avalanche, which is in a market capitalization of $ 9 billion, is currently the 15th largest cryptocurrency for that metric, which makes it a great candidate to benefit from a great impact even through incremental improvements, according to Kendrick. Between blockchains, it is the largest tenth for total blocked value (TVL).
“As a result, we see that Avax exceeded Bitcoin and Ethereum in terms of relative price profits in the coming years, reaching a level around USD 250 at the end of 2029, more than 10 times the price of today.”
Before the December update, the Avalanche Foundation, the AVAX issuer, raised $ 250 million in a tokens sale, directed by Galaxy Digital, Dragonfly and Parafi Capital.
