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Standard Chartered Bank predicts SKY shares will rise fivefold to $0.325 by 2028

2026-09-11 20:41:36
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Standard Chartered Bank launched a coverage rating on Sky (SKY token), raising its target price five-fold

Standard Chartered Bank officially launched an independent coverage study on the Sky project SKY token. The bank has set a target price of $0.325 for the end of 2028, a significant five-fold increase compared to the $0.065 offer disclosed to Cointelegraph on Friday.

Geoff Kendrick, global head of digital asset research at Standard Chartered, compared Sky-the decentralized finance (DeFi) platform formerly known as MakerDAO-to a "federal bank." He pointed out that Sky obtained this ratio because it has multiple functions such as issuing stablecoins, building a governance framework, and charging wholesale interest rates from borrowers.

Kendrick analyzed in the report that Sky mainly returns value to token holders through pledge rewards, while token repurchase accounts for a relatively small proportion. Currently, Sky has become the world's third largest stablecoin issuer after Tether and Circle, and is also the largest issuer in the field of income-based stablecoin.

The bank's forecast points out that the performance of SKY tokens is expected to remain roughly in line with Ether and surpass Bitcoin by 2028. Based on this outlook, Standard Chartered expects that by the end of 2028, the price of Ethereum will reach US$18,000, while the price of Bitcoin will reach US$300,000.

According to data from DeFiLlama, Sky's income-based sUSDS stablecoins currently have a total locked value (TVL) of US$4.5 billion, with an annualized yield (APY) of 3.6%.

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