Standard Chartered forecasts SKY token to reach $0.325 by 2028
Standard Chartered issues SKY price target
Standard Chartered’s digital‑assets research team released a note on Friday that projects the SKY governance token will be worth $0.325 by the end of 2028, roughly five times its current price.
Key numbers
- Current SKY price: $0.06 (as of the note’s release).
- Target price for 2028: $0.325.
- Projected intermediate prices: $0.080 in 2026 and $0.180 in 2027.
- USDS stablecoin supply on Ethereum: 6.62 billion tokens.
- Sky’s total deployed USDS by agents: $5.9 billion.
What the research note says
The note describes Sky’s ecosystem as a “federal bank” that issues stablecoins, sets governance rules and charges interest to borrowers. It lists three revenue sources: net interest income from borrowers, yield from a peg‑stability module on USDC, and earnings from crypto‑backed vaults.
According to the note, the value passed to SKY holders through staking rewards and token buybacks should increase five‑fold by 2028 if the ecosystem and USDS supply continue to grow.
Confirmed facts
- Standard Chartered’s global head of digital assets research, Geoff Kendrick, authored the note.
- SKY traded at $0.06 on the day of the note, up 2.4% that day and 11% over the past 30 days (CoinGecko).
- Agents have borrowed $5.9 billion of USDS since Sky’s model began in September 2024.
- Sky’s June update reported $27.2 million in fees and $13.45 million in revenue over the previous 30 days.
- Sky has bought back 18.6 million SKY tokens in the last 30 days and $120 million in buybacks since February 2025.
Uncertainties and risks
The note flags the main risk as slower‑than‑expected growth in yield‑bearing stablecoins, which could affect the projected price increase.
Why the forecast matters
If Sky’s USDS supply and ecosystem activity grow as expected, the token’s value could rise, potentially making SKY one of the larger yield‑bearing stablecoin issuers. The forecast also aligns SKY’s performance with bullish expectations for major assets like Ether and Bitcoin.
Next steps
Sky plans to continue its buyback program and expand agent deployments, but no specific timeline beyond the 2028 target is given.
