With the cryptocurrency market on a tear amid the benchmark blockchain asset soaring to near all-time highs, the enthusiasm has naturally sparked downwind benefits for alternative cryptos or altcoins like Avalanche (AVAX-USD). In particular, the AVAX crypto enjoys broader awareness with its sizable market capitalization of around $16.1 billion. Further, several experts have chimed in regarding their Avalanche price predictions.
According to virtual currency informational hub CoinMarketCap, the AVAX crypto undergirds the Avalanche project, which is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. Per Techopedia, layer one refers to a base blockchain on which secondary blockchain networks and applications can be built.
Fundamentally, the catalyst behind Avalanche — and, by deduction, the investment narrative of the AVAX crypto — is to provide the go-to platform for smart contracts. Like their traditional “analog” counterpart, the smart contract executes when predetermined terms and conditions are met. However, the intermediary that determines contract execution is the blockchain rather than a human arbitrator.
To that end, Avalanche boasts a high transaction output of up to 6,500 transactions per second while not compromising scalability. Thanks to this key advantage, many have voiced their opinions regarding Avalanche price predictions, which range from the very modest to the ambitious.
Avalanche Price Predictions in Focus Amid Crypto Euphoria
Currently, the AVAX crypto sits just outside the top 10 in terms of market cap. Specifically, it sits a few billion dollars shy of Shiba Inu (SHIB-USD), a meme coin that has captured the attention of speculators as it soars 238% over the trailing seven days.
However, given the core importance of smart contracts, it’s quite possible that AVAX is a better long-term prospect. As a result, several sources have chimed in regarding their Avalanche price predictions:
- At the most modest end, a Binance (BNB-USD) blog notes that the average price in 2024 will be $42.56 per unit. By 2025, the price may rise to $44.69, which is less than 6% up from the time-of-writing price.
- On a slightly more optimistic trajectory is a note from a Changelly blog, which predicts a rise to $43.94 by March 5 (tomorrow).
- GOV Capital laid out a case that AVAX can hit $66 within a one-year period.
- Finally, Coinpedia writes that the potential high-side target could be $80 and could jump to nearly $200 by the end of 2030.
Since Oct. 18 of last year, AVAX saw an almost five-fold gain in market value.
Why It Matters
One factor to keep in mind regarding the Avalanche price predictions is the growth of the underlying sector. According to Grand View Research, the global smart contracts market size reached a valuation of $684.3 million in 2022. From 2023 to 2030, analysts predict a compound annual growth rate (CAGR) of 82.2%, culminating in industry revenue of $73.77 billion.
On the date of publication, Josh Enomoto 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.
