Standard Chartered Sees ENA at $2, USDe at $40B by 2028
The bank said Ethena could gain as tokenized assets and yield-bearing stablecoins expand, with ENA trading about 87% below the target.
- On Wednesday, Standard Chartered Global Research initiated coverage of ENA, setting a $2 price target for the end of 2028, roughly seven times the token's current level.
- Analyst Geoff Kendrick described Ethena as a "scalable yield-bearing stablecoin" with exposure to perpetual futures, tokenization, and stablecoins—three areas Standard Chartered expects to grow over coming years.
- The bank's valuation model relies on a fee switch approved Sept. 8 that directs 95% of net revenue from Ethena's business lines toward recurring ENA buybacks.
- ENA traded near $0.25 on Wednesday, leaving the token roughly 87% below Standard Chartered's target, though it gained 54.1% in the week through Sept. 26.
- Projections suggest real-world assets on blockchains could grow from around $40 billion today to $2 trillion by 2028, potentially creating long-term opportunities for ENA as Ethena expands.
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Cryptocurrency News | Cryptocurrency Prices | Market CapCan Ethena price reach $2 by 2028?
Standard Chartered has initiated coverage of Ethena’s ENA token with a $2 price target for the end of 2028, putting the bank’s first published valuation at roughly eight times the token’s current market price. Standard Chartered Global Research said on…
Standard Chartered Forecasts Ethena’s USDe to $40B, ENA to $2
Standard Chartered has initiated coverage of Ethena’s ENA token with a bullish set of long-range assumptions tied to the growth of its USDe stablecoin. In a research report shared with Cointelegraph, the bank projects USDe supply could expand eightfold to $40 billion by the end of 2028—driven by yield strategies that go beyond the protocol’s [...]
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Standard Chartered Initiates Ethena Coverage, Forecasts $2 ENA by 2028
TL;DR Standard Chartered initiated coverage of Ethena with a price target of $2 for ENA by end of 2028, implying an upside of 669%. The bank projects USDe supply will grow more than eightfold, from the current $4.9 billion to approximately $40 billion by 2028. The ENA buyback mechanism, approved with 100% of votes, will ...
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