Standard Chartered forecasts SKY rising fivefold to $0.325 by 2028

Standard Chartered has started coverage of Sky’s native token, assigning a price target of $0.325 for the end of 2028, a fivefold rise from the $0.065 level cited in its report. The bank says the projected gains reflect growing USDS adoption and increased borrowing capacity on the Sky platform, which it compares to a "federal bank."

By AI NewsroomPublished 32 minutes agoUpdated 32 minutes ago0 views

Standard Chartered forecasts SKY rising fivefold to $0.325 by 2028

Why It Matters

The forecast signals that a major global bank expects token-linked revenue models and yield-bearing stablecoins to deliver material value to holders over the next several years. If realized, the call implies Sky could keep pace with Ether and outperform Bitcoin through 2028 according to Standard Chartered's asset-price assumptions.

Key Facts

Price target (end-2028): $0.325
Price cited in report: $0.065
Analyst: Geoff Kendrick, Standard Chartered global head of digital assets research
Sky comparison: Likened to a "federal bank" by Standard Chartered
Primary value return to holders: Staking rewards (buybacks a smaller share)

Standard Chartered has initiated coverage of Sky’s native token and set a price target of $0.325 for the end of 2028, roughly five times the $0.065 figure cited in its report. The bank told Cointelegraph that the increase reflects expectations that Sky will channel substantially more value to token holders as adoption of its USDS stablecoin and the protocol's borrowing capacity expand.

In its analysis, Geoff Kendrick, the bank’s global head of digital assets research, compared Sky to a "federal bank," noting the protocol issues stablecoins, operates a governance framework and charges borrowers a wholesale interest rate. Standard Chartered says Sky primarily returns value to token holders through staking rewards, with token buybacks contributing a smaller portion of overall returns.

The report highlights Sky's market position among stablecoin issuers: it ranks third behind Tether and Circle and is the largest issuer of yield-bearing stablecoins. Standard Chartered referenced Sky’s yield-bearing sUSDS having $4.5 billion in total value locked and offering a 3.6% annual percentage yield, according to DeFiLlama data cited in the report.

Standard Chartered’s outlook also includes broad crypto price assumptions that inform its SKY forecast. The bank projects Ether at $18,000 and Bitcoin at $300,000 by the end of 2028, and says SKY's projected appreciation implies it would generally keep pace with Ether and outperform Bitcoin over that period. The report was shared with Cointelegraph as part of the bank's newly initiated coverage.