Coin Bureau Share A ‘Realistic’ Year End Target For Avalanche (AVAX)
The host of a popular crypto YouTube channel Coin Bureau, shared a realistic end of 2021 price prediction for smart contract platform Avalanche (AVAX) while the wider crypto market is showing massively bullish signals.
In a recent video, the show host known as Guy shares with his 1.31 million YouTube subscribers that an upcoming Apricot upgrade on Avalanche, impacting AVAX’s fee structure, could spark a potential rally for the coin.
“Prior to this, Avalanche smart contracts had a fixed fee mechanism. Now the reason why this is so significant is because all AVAX used to pay for transaction fees is burned and a dynamic fee schedule could mean more AVAX going up in flames when the network is seeing a lot of activity.
Network activity is all I can see for Avalanche on the horizon as more dApps [decentralized applications] and DeFi [decentralized finance] protocols make their debuts, and this might just be enough to push AVAX past its previous all-time high.”
According to Guy, Avalanche offers additional features after achieving a new milestone with the new and improved Avalanche bridge.
“It is now five times faster and two times cheaper to move tokens between Avalanche and Ethereum. Avalanche also has plans to build additional bridges to other blockchains to become ‘the core hub of DeFi.’
Unfortunately Avalanche has not yet managed to meet another major milestone, and that’s the introduction of a new and improved Avalanche wallet complete with a mobile app and browser extension. Avalanche still has a month left to introduce these new wallet features and hopefully, we’ll see them by the end of the September deadline on the roadmap.”
Here’s where the show host sees AVAX realistically reaching by the end of 2021:
“I think a hundred dollars is a realistic expectation for an end-of-year target. However, it’s worth pointing out that we will probably see a bit of front-running going on – people selling slightly before that significant $100 price point. This makes $80 to $90 a safe sell range. It’s possible AVAX could rise much higher than that, but this ultimately depends on what Avalanche has planned for the coming months.”
