$ENA-USD

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.

Original reporting
Published Sep 30, 2026, 1:17 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 30, 2026, 1:36 PM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
AlphAI market briefCrypto
Primary signal
$ENA-USD
Bullish
high confidence
Mentioned
$ENA-USD
Relevance
7/10
AlphAI data visualization · based on stocktwits.com
Decision brief

The 30-second read

$ENA-USDBullishMed
01

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.

02

Market read

New analyst coverage provides a fresh price target for ENA, creating a potential trading catalyst in the crypto market.

03

What to watch

Potential slowdown in stablecoin yield growth and regulatory scrutiny could limit upside.

Relevance 7/10Novelty 8/10Timing: today

Background

Standard Chartered released a research note on Wednesday covering Ethena's ENA token, comparing it to Bitcoin and Ethereum forecasts.

Company-level read

Ticker impact

$ENA-USDBullishHigh confidence
Context

Standard Chartered initiates coverage of Ethena's ENA token with a 7‑fold price target to $2 by 2028, a fresh analyst forecast.

Expected impact

likely upward pressure as traders price in the 900% upside target

Evidence & confidence

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

  • Standard Chartered

    Issuer of the ENA price target and comparative crypto forecasts.

  • Ethena

    Issuer of the ENA token, fourth‑largest stablecoin provider.

Related articles

$ENA-USDMedAI 8/10

Ethena Accumulates $1.061 Billion in Fees Since Late 2023

Ethena has earned $1.061 billion in protocol fees since its late 2023 launch, with its USDe synthetic-dollar product nearing a $4.8 billion market cap. Fees come from USDe issuance, redemptions, and holdings, distributed to stakers and ENA holders. As of mid-October, Ethena's total value locked was $5.189 billion, with ENA's market cap at $3.206 billion.

$QNT-USDHigh

Crypto gainers and losers: Quant jumps 158%, Lighter sinks

Quant (QNT) surged 158.3% after being selected by The Clearing House for its On-Chain Money Initiative. Midnight (NIGHT) rose 96.5% with expanded mainnet access. Bitcoin (BTC) gained 0.6%, while Lighter (LIGHT) fell 28.7% following Robinhood's derivatives announcement. Ethena (ENA) and Zcash (ZEC) also posted double-digit losses.

$ENA-USDHighAI 8/10

Ethena Drops 9% as 3.03B Token Unlock Looms

Ethena (ENA) dropped 9% due to an upcoming unlock of 3.03 billion tokens (20% of supply) and a market rotation towards Bitcoin and large-cap cryptocurrencies. Bitcoin rose 3.4% to $86,000, while ENA underperformed alongside other high-beta tokens. The unlock, set for October 2026, may increase supply pressure. Broader market trends favored Bitcoin ETFs over Ethereum, amplifying ENA's decline.