The Future of Avalanche and AVAX Price Prediction

Avalanche is a platform for decentralized applications (DApps), smart contracts, and custom blockchain networks. This layer-one blockchain is among the most prominent Ethereum rivals in the smart contracts arena. Some experts think Avalanche could unseat Ethereum as the most popular platform for smart contracts because of its superior scalability, lower gas fees, and faster transactions. No wonder Avalanche has proclaimed itself the “world’s fastest smart-contract platform.”

Avalanche’s native token, AVAX, is used on this platform for paying transaction fees. It is also used for staking and governance. AVAX holders have the right to vote on proposed changes to the network. But what is the future of Avalanche? Can it become the number-one platform for smart contracts and decentralized applications? To answer these questions, we must look into Avalanche’s core features to understand its differences from other platforms. This article briefly reviews the Avalanche platform and provides an AVAX crypto price prediction.

Avalanche Overview

As of May 15, 2023, AVAX was the 16th most valuable cryptocurrency by market capitalization, according to CoinMarketCap. The table below summarizes several important indicators for this cryptocurrency.

How Does Avalanche Work?

Avalanche significantly differs from other blockchain platforms by how consensus is reached on the network. Avalanche utilizes its native Snow protocol, combining classical and Nakamoto consensus protocols. Classical consensus protocols like proof-of-work (PoW) have scalability problems because of their “all-to-all communication” approach. That is why some PoW networks, like Bitcoin, suffer from delays and low throughput.

In contrast, the Snow protocol allows each node on the network to poll a small set of neighboring nodes to reach a consensus, thereby avoiding the “all-to-all communication” approach. Avalanche calls these dynamic sets of validators subnetworks (or simply subnets). Through the use of subnets, Avalanche can reduce network traffic. Validators can be members of multiple subnets.

A subnet validates each blockchain built on Avalanche, and each subnet can validate several blockchains. The Avalanche network has a “default subnet” (aka “primary network”), which all validators validate. The primary network validates three predefined built-in blockchains, namely:

• Exchange Chain (X-Chain). For trading funds on Avalanche.
• Platform Chain (P-Chain). For staking AVAX and coordinating subnets activities.
• Contract Chain (C-Chain). For the creation of DApps and smart contracts.

Currently, most Avalanche applications are deployed on the C-Chain. It is undeniable that Avalanche is fast and brings low fees. However, it is unlikely it will take Ethereum’s place shortly.

AVAX Technical Analysis

AVAX hit the open market in September 2020 at an initial price of $5.3. However, the price dropped and remained low for the remainder of 2020. On December 31, 2020, the AVAX price dropped to its all-time low of $2.8. But in early 2021, the AVAX price skyrocketed, reaching $54.9 on February 10. During March, April, and part of May that year, the AVAX price fluctuated around $30. Although the price dropped in the summer, AVAX recovered by the end of that year, reaching its all-time high on November 21 at $146.2. After such a tremendous rally, AVAX closed 2021 at $109.4.

2022 was not a good year for most cryptocurrencies. AVAX was not an exception. This cryptocurrency’s price showed a lot of volatility in the first four months of 2022 but stayed above $50. However, the AVAX price plummeted during May and the first days of June. This coin traded at $14.8 on June 18. AVAX hovered around $10 for the rest of 2022, closing that year at $10.9.

During the first two months of 2023, AVAX showed signs of recovery. This cryptocurrency traded at around $22.4 on February 2. Although the price dropped in the first half of March, AVAX rebounded the following month, reaching almost $21.5 on April 18. After this hike, the AVAX price has shown a downtrend. As of May 15, 2023, AVAX traded at $15.3 per coin.

Avalanche Price Prediction

AVAX Price Prediction 2024

The AVAX price will continue to increase in 2024. According to PricePrediction, AVAX will sell at $28.1 on average next year, reaching a maximum of $32.2. DigitalCoinPrice expects an average price of $36.5 and a maximum of $37.8. CryptoNewsZ forecasts a more optimistic scenario, with AVAX selling at an average price of $37.5 and a maximum of $44.3. Your AVAX investment at the current $15.3 could grow by +189%.

AVAX Coin Price Prediction 2025

AVAX will be back on track in 2025, and its price will grow more rapidly. PricePrediction indicates an average AVAX price of $40.8, with a potential maximum of $47.1. DigitalCoinPrice forecasts an average price of $52.4 and a maximum of $54.5. For its part, CryptoNewsZ expects AVAX to sell at $50.6 on average in 2025, possibly reaching $59.7. Hence, your AVAX investment at the current trading price of $15.3 could grow by +290%.

AVAX Price Prediction 2030

Crypto price predictions for the distant future are often inaccurate because of many factors that must be considered. Hence, AVAX price predictions for 2030 vary significantly between different sources. DigitalCoinPrice expects AVAX to trade at $155.7 on average in 2030, possibly reaching $156.9. It means AVAX would reach a new all-time high in that year. CryptoNewsZ is more optimistic and predicts an average price of $144.6, with a maximum of $170.7. For its part, PricePrediction indicates the average AVAX price in 2030 will be $261.9, with a potential maximum of $295.4. It means your AVAX investment at the current $15.3 could increase its value by +1,611%.

Summary: Is AVAX a Good Investment?

Although the AVAX price is expected to expand in the coming years, it will not grow by the same percentage as other cryptocurrencies in the market. Nevertheless, Avalanche is a solid project with a good use case. Hence, investing in AVAX could be safer than investing in more speculative cryptocurrencies. True, other cryptocurrencies could yield higher returns, but they could also lead to more considerable losses. So, in conclusion, AVAX might be a fair investment in the long run. If you want to invest in AVAX, you can purchase this cryptocurrency on LetsExchange.io without registration and at competitive rates.

FAQs

Can AVAX reach $1,000?

It is unlikely AVAX will reach $1,000 in this decade. However, it might happen in the distant future.

Is Avalanche Better Than Ethereum?

Ethereum is still the best and most popular platform for smart contracts.

What is the Avalanche price today?

As of May 15, 2023, the AVAX price was around $15.3 per coin.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.