Avalanche Price Predictions: Why One Analyst Sees AVAX Dethroning Ethereum

The Avalanche (CCC:AVAX-USD) network has quietly exploded in the second half of this year. While much of the crypto chatter recently is about non-fungible tokens (NFTs) and the metaverse, AVAX has been chugging along and gathering what it needs to compete with giants like Ethereum (CCC:ETH-USD). It looks like now, crypto investors are starting to really pay attention to the network. In fact, Avalanche is catching the eye of even large institutions. With today’s note from a major bank coming out bullish on AVAX, investors are seeking out Avalanche price predictions.

gold Avalanche (AVAX) cryptocurrency concept coin

Source: Hakan GERMAN / Shutterstock

Avalanche has been one of the most talked-about cryptos in recent weeks as users note the network’s continued improvements and scalability.

Indeed, the network promises support for up to 4,500 transactions per second, putting Ethereum to shame. Moreover, it has seen inked many partnerships in recent months. Most notably, Avalanche announced it would be collaborating with accounting firm Deloitte on streamlining funding for disaster relief.

Today, it seems that this hard work is paying off in dividends. That’s because the network has caught the admiration of none other than Bank of America. Alkesh Shah led a team of analysts to publish a note late last week lauding the network’s scalability and low transactions fees.

Ultimately, Bank of America views the network as a viable alternative to others like Ethereum.

Avalanche Price Predictions Heat Up With BofA Note

Of course, crypto is a space of its own, with a focus on getting away from big banks and centralization. Yet, it’s still a very good thing to have the fundamental support of a giant like Bank of America. As AVAX continues the week, it so too continues to post big gains. This morning, the coin is up 9% on the day; putting it just above $87.

Avalanche price predictions, then, are a point of interest among crypto investors. They want to know if the AVAX coin can continue its current momentum as 2021 comes to a close. Let’s see what some crypto prediction outlets are saying about the future of AVAX:

  • CoinPriceForecast expects AVAX to explode through $100 before the year closes, ultimately reaching $107. At the end of 2022, this price is expected to nearly triple, reaching $301.
  • DigitalCoinPrice expects Avalanche to gain even more by the end of 2021. The site is targeting a year-end value of $140. But at the end of 2022, the site expects AVAX to fetch just $159.
  • WalletInvestor forecasts a price of $224 for AVAX by December 2022.
  • Gov Capital’s price prediction for December 2022 puts AVAX at $265.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/12/avalanche-price-predictions-why-one-analyst-sees-avax-dethroning-ethereum/.

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