The bank also expects Ethena’s ENA token to rise roughly sevenfold to $2 by the end of 2028 as USDe scales and token buybacks increase.
British multinational bank Standard Chartered expects Ethena’s USDe stablecoin supply to grow eightfold to $40 billion by the end of 2028 as the protocol expands its sources of yield beyond crypto markets.
In a Wednesday research report shared with Cointelegraph, the bank initiated coverage of Ethena’s ENA token& with a year-end 2028 price target of $2, roughly seven times the $0.28 price cited in the report. Standard Chartered also expects USDe to slightly outpace overall stablecoin market growth over the period.
Its forecasts imply ENA would also outperform Bitcoin (BTC) and Ether (ETH) through 2028. Standard Chartered sees BTC reaching $300,000 and ETH $18,000 by the end of the period.
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