Standard Chartered Bank Expects SKY Token to Rise to $0.325 by End of 2028, Five Times Its Current Value

Odaily Planet Daily News – UK-based Standard Chartered Bank has initiated coverage of Sky's SKY token, setting a target price of $0.325 by the end of 2028, a fivefold increase from the $0.065 cited in the report. The bank anticipates that as USDS adoption and borrowing capacity expand, the value delivered to SKY token holders by 2028 will exceed five times the current level. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that Sky is a decentralized finance (DeFi) platform formerly known as MakerDAO, capable of issuing stablecoins, establishing governance frameworks, and charging wholesale rates to borrowers, making it akin to a "federal bank." Sky primarily delivers value to SKY holders through staking rewards, with token buybacks accounting for a smaller proportion. Sky is the world's third-largest stablecoin issuer, trailing only Tether and Circle, and is the largest issuer of yield-generating stablecoins. Standard Chartered Bank predicts that SKY will roughly track Ether's performance and outperform Bitcoin by 2028. The bank also forecasts Ether and Bitcoin prices to reach $18,000 and $300,000, respectively, during the same period. According to DeFiLlama data, Sky's yield-generating sUSDS token has a total locked value of $4.5 billion, with an annualized yield of 3.6%. (Cointelegraph)