Standard Chartered projects SKY token to reach $0.325 by 2028

Standard Chartered raises SKY price target

Standard Chartered has started covering the SKY token, setting a price target of $0.325 for the end of 2028, five times its current level of $0.065.

Key points

• SKY is a DeFi platform that issues the stablecoin sUSDS.
• The bank expects the token’s value to grow as USDS adoption and borrowing increase.
• Staking rewards are the main source of returns for token holders, with buybacks playing a smaller role.
• SKY is the third‑largest stablecoin issuer after Tether and Circle, and the biggest provider of yield‑bearing stablecoins.
• Standard Chartered forecasts Ether at $18,000 and Bitcoin at $300,000 by 2028.

Analyst explanation

Geoff Kendrick, global head of digital assets research, compares SKY to a “federal bank” because it creates a governance system, issues a stablecoin and charges wholesale interest to borrowers.

Current token metrics

According to DeFiLlama, the sUSDS token has $4.5 billion locked in the protocol and offers a 3.6 % annual percentage yield.

Why the forecast matters

If the outlook holds, SKY could grow at a pace similar to Ether and faster than Bitcoin through 2028, according to the bank’s analysis.

Sources

• Cointelegraph