The analyst known as Kaleo believes that Avalanche (AVAX), a rival to Ethereum (ETH), may experience an exponential rally similar to Ethereum's early growth. Kaleo points out that the price action of AVAX over its first four years is reminiscent of Ethereum's during the same timeframe. If AVAX follows a similar trajectory, Kaleo suggests that an upside target of $400 is possible, although it would require a 1,427% increase from its current price. However, Kaleo notes that there are differences between AVAX and ETH, including the level of competition for capital and the larger amount of capital in the market currently. Additionally, Ethereum had specific narratives such as decentralized finance and non-fungible tokens that propelled its growth, whereas AVAX's narrative is centered around being a layer-one launchpad. Kaleo believes that if AVAX can continue to make partnerships and find its own catalyst outside of its launchpad narrative, it may have a higher chance of experiencing significant growth.



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