Standard Chartered Is More Bullish On Ethena Than Bitcoin, Ethereum: Sees 7-Fold Jump By 2028
Standard Chartered initiated coverage of Ethena's ENA token, predicting a sevenfold increase to $2 by 2028. The firm's price targets for ENA surpass its forecasts for Bitcoin and Ethereum. ENA's price rose over 4% in 24 hours, trading at around $0.2. The bank cited potential risks, including slower growth in stablecoins and tokenized assets. Ethena is the fourth-largest stablecoin issuer, with USDe being the fastest to reach a $10 billion market cap.
How this was made
The 30-second read
Why it matters
The forecast sets ENA's price target at $2 by 2028, implying a 900% upside from current levels, which could drive buying interest.
Market read
New analyst coverage provides a fresh price target for ENA, creating a potential trading catalyst in the crypto market.
What to watch
Potential slowdown in stablecoin yield growth and regulatory scrutiny could limit upside.
Background
Standard Chartered released a research note on Wednesday covering Ethena's ENA token, comparing it to Bitcoin and Ethereum forecasts.
Ticker impact
Standard Chartered initiates coverage of Ethena's ENA token with a 7‑fold price target to $2 by 2028, a fresh analyst forecast.
likely upward pressure as traders price in the 900% upside target
The note provides a concrete price target and growth assumptions, creating a clear trade thesis.
Market effects
Highlights growing analyst interest in yield‑bearing stablecoins and tokenized real‑world assets.
May boost sentiment for crypto assets broadly, especially stablecoin‑related tokens.
Adds to the narrative of crypto price targets influencing broader digital asset markets.
Counterpoint
Skeptics may argue the 7‑fold target is overly optimistic given regulatory and adoption risks.
Key entities
- Research FirmStandard Chartered
Issuer of the ENA price target and comparative crypto forecasts.
- Crypto IssuerEthena
Issuer of the ENA token, fourth‑largest stablecoin provider.
