Avalanche Price Predictions: How Far Can Coinbase Take the AVAX Crypto?

Among the top 10 cryptocurrencies by market capitalization driving significant investor interest is Avalanche (AVAX-USD). Today, Avalanche is trending lower as the crypto market takes a breather from some otherwise impressive price action. That said, investors are certainly interested in what the experts are thinking in terms of Avalanche price predictions right now.

gold Avalanche (AVAX) cryptocurrency concept coin
Source: Hakan GERMAN / Shutterstock

That’s because Avalanche is a network with a number of recent catalysts driving interest. The AVAX token has been surging, among the best-performing large-cap tokens for some time. Developer interest, as well as user growth, has been impressive.

Today’s big catalyst is a report that Coinbase (NASDAQ:COIN) is going to increase support for Avalanche. This support will come via Coinbase Cloud, a product Coinbase hopes will allow this integrated crypto provider to become the “Amazon Web Services of crypto.”

Essentially, Coinbase Cloud is looking to run a public validator on Avalanche that would enable delegators to easily and securely stake their AVAX tokens. Right now, the delegation process is rather complex and difficult to understand for most individuals. If Coinbase is able to make this process mainstream, simplifying it for the average investor, the potential upside is big for both Coinbase and Avalanche. At least, that’s what investors are hoping.

Let’s dive into what the experts think of Avalanche right now.

Avalanche Price Predictions

For context, AVAX currently trades at $84 per token, at the time of writing.

  • Wallet Investor provides one-year and five-year forecasts of $164.78 and $477.03, respectively, for AVAX.
  • Similarly, Gov Capital suggests AVAX could hit $319.21 in one year and $2,463 in five years.
  • DigitalCoinPrice puts forward one-year and five-year price targets of $119.48 and $162.26, respectively, for AVAX.

On the date of publication, Chris MacDonald 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.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2022/03/avalanche-price-predictions-how-far-can-coinbase-take-the-avax-crypto/.

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