Standard Chartered Bank expects SKY coin to rise fivefold by the end of 2028

Standard Chartered Bank forecast: SKY tokens are expected to increase five-fold by the end of 2028

Standard Chartered Bank has issued a bold price forecast that the value of SKY tokens may increase five-fold by the end of 2028. This forecast will push the price of the digital asset to five times its current value. Under the bank's framework, Sky (formerly known as the MakerDAO Agreement) is positioned as the "Federal Reserve Bank of Decentralized Finance (DeFi)."

It needs to be clear that "five-fold" refers to a five-fold increase relative to the starting price, that is, a 400% increase, rather than a guaranteed result. This is just a probability-based prediction that describes what may happen in the future rather than an established fact.

Analysis of SKY token price target at the end of 2028

According to The Block reported on September 11, 2026, when Standard Chartered Bank began to cover the Sky project, it set a target price for SKY tokens at US$0.325 by the end of 2028. By comparison, the price at the time of the report's release was approximately $0.065. Standard Chartered Bank's target price was US$0.325 per SKY token, while the benchmark price at the time was approximately US$0.065. It should be noted that this is a forecast and we did not obtain the bank's original internal reporting documents.

This prediction is conditional. It depends on a five-fold increase in value allocated to SKY holders through ecosystem expansion and USDS (stablecoins) growth. In layman's terms, the income earned by SKY holders needs to reach five times the current level before the token price can rise accordingly.

According to reports, the assumption of the banking model is that by the end of 2028, the value allocated to SKY holders will increase fivefold, and the pledge yield will remain at around 4.2%. This represents a potential gain of 400% compared to the approximate price at the time of reporting, but this is not a realized return. The main risk is that the growth rate of interest-bearing stablecoins is slower than expected.

Currently, the trading price of SKY tokens is close to US$0.063, with a market value of approximately US$1.48 billion. This real-time price is slightly below the $0.065 benchmark used by banks, so its target price is still well above current levels.

Why does Standard Chartered call Sky "DeFi's federal bank"?

The Block quoted Geoffrey Kendrick, global head of digital asset research at Standard Chartered Bank, to explain the "DeFi's Federal Bank" category. Kendrick pointed out that Sky issues USDS stablecoins, formulates governance rules, and provides loans at wholesale rates, functions similar to those of a central bank.

USDS is a cryptocurrency token designed to maintain value stability. Kendrick mentioned that if other conditions remain equal, the value allocated to SKY holders could increase fivefold by the end of 2028, which would support a similar increase in token prices.

It must be emphasized that this expression is only an analogy at the economic level and does not represent legal status. Sky does not hold a federal charter and has no government endorsement. Its operating model is more like some traditional banks 'recent experiments in stablecoin transfers, but without the support of any official banking license.

The data behind the forecast supports

According to data reported by The Block, the three lending branches of Spark, Grove and Obex borrowed a total of USDS of USDS at the reporting time point and paid a base interest rate of 3.8%. These data are snapshots at the time of reporting and are not independently verified real-time balances.

The report sets a total agent borrowing limit of US$17.5 billion. Banking models show that if borrowing scales climb towards that limit and spreads remain stable, income could increase another two to three times.

In addition, the report describes a total reserve capital (safety buffer) of approximately US$90 million and is expected to reach US$150 million within eight months. Banks have set a threshold: When reserve capital reaches 1.5% of outstanding USDS, a doubling of reward and repurchase activity could be triggered.

How the Sky reward mechanism actually works

According to Sky's official explanation, the Sky governance community is responsible for voting on the rules of the agreement, which includes the variable Sky savings rate. The rate is funded by the total surplus of the agreement and is not directly set or paid by an independent agent.

Sky uses a savings token called sUSDS. Over time, the token balance of sUSDS remains unchanged, but its value converted into USDS will gradually increase. Owning sUSDS does not imply an ownership claim to any particular agent, borrower, pool of collateral, or strategy.

These three rates are easy to confuse. The Sky savings rate recently displayed on the front page of the Sky website is 3.60% annualized, and the SKY pledge rate is 4.45% annualized, both of which are different from the 4.2% pledge yield assumed in the bank's report.

Some of the US dollar target price and multiples not explicitly stated in the forecast

come from the bank's own model. Widespread reports did not fully detail every input parameter used by banks because the original report documents were not publicly available.

Therefore, based on unconfirmed reports of the complete content of the underlying report, model inputs should be regarded as data provided by Kendrick relayed through The Block. This is a limitation of the existing evidence, not evidence that the bank is concealing something.

Forecasts do not equal the achieved return. The overall sentiment of the cryptocurrency market currently shows a score of 63 on the "Fear and Greed Index", which is in the "Greed" range, but this indicator measures the entire market rather than the specific situation of SKY tokens.

For ordinary holders, the practical lesson is simple: this is a five-year bank forecast based on the growth assumption of stablecoin, with a spirit similar to other institutional bets (such as expanding the scope of stablecoin listings). It should serve as a reference for your research and not a substitute for your own independent judgment.

Disclaimer : This article is for reference only and does not constitute financial or investment advice. There are significant risks in the cryptocurrency and digital asset markets. Be sure to conduct independent research before making any decisions.