Standard Chartered Sees SKY Rising to $0.325 by End-2028

Standard Chartered digital assets research global head Geoff Kendrick said in a report that SKY could reach $0.325 by the end of 2028, about five times the report’s $0.065 base-case price. According to ChainCatcher, the bank expects SKY’s price gains to broadly track ETH and outperform Bitcoin before the end of 2028. Sky is a decentralized finance platform that adopted its current name in 2024 and launched USDS and the SKY governance token. The protocol’s agent has borrowed $5.9 billion in USDS since September 2024, while USDS supply reached $10.04 billion in June, up 96.9% year over year and down from $11.14 billion in May. Standard Chartered said further growth in USDS supply would lift protocol revenue and token-holder distributions, while staking rewards and token buybacks are intended to distribute value to SKY holders. The bank expects the value distributed to holders to at least double over the next 12 months and said weaker-than-expected growth in yield-bearing stablecoins is the main risk to SKY’s outlook.