Standard Chartered forecasts SKY rising fivefold to $0.325 by 2028
The bank expects Sky to pass five times as much value to token holders by 2028 as USDS adoption and borrowing capacity continue to expand.
Standard Chartered has forecast that Sky's SKY token could increase fivefold to $0.325 by 2028. The bank has initiated coverage of Sky's token, upping its price target from $0.065 previously. Geoff Kendrick, the bank's global head of digital assets research, compared Sky to a "federal bank" due to its issuance of stablecoins, governance framework, and borrower interest rates.
According to Kendrick, Sky primarily returns value to token holders through staking rewards, with token buybacks playing a lesser role. Sky is currently the third-largest stablecoin issuer, trailing Tether and Circle, and the largest issuer of yield-bearing stablecoins. Kendrick believes that SKY will track Ether closely and surpass Bitcoin by the end of 2028, with Ether predicted at $18,000 and Bitcoin at $300,000 during the same period.
Sky's yield-bearing sUSDS token currently holds $4.5 billion in total value locked and provides an annual percentage yield of 3.6%.
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