[Standard Chartered Bank Initiates Coverage of Ethena, Predicts ENA Token to Rise to $2 by End of 2028] According to Deep Tide TechFlow on September 30, Standard Chartered Bank's Global Head of Digital Asset Research, Geoff Kendrick, released a research report announcing that Standard Chartered Bank has officially initiated coverage of Ethena (ENA). The report predicts that the ENA token will rise to $2.00 by the end of 2028. The report highlights that Ethena is currently the fourth-largest stablecoin issuer globally (behind Tether, Circle, and Sky). Its stablecoin, USDe, launched at the end of 2023, quickly became the fastest stablecoin to surpass a $10 billion market cap. Yield-generating stablecoins currently account for approximately 5% of the overall stablecoin market, and this proportion is expected to grow as user demand for yield increases. In terms of yield sources, USDe has gradually diversified from its early reliance on crypto basis trading (which once offered over 20% annualized returns) to include real-world assets (RWA) and perpetual stock contract basis. Standard Chartered predicts that the on-chain RWA market will grow from its current size of approximately $40 billion to $2 trillion by the end of 2028, providing support for ENA's buyback program and price appreciation.