Standard Chartered Bank Initiates Coverage of ENA, Expected to Reach $2 by End of 2028

Standard Chartered Bank has initiated coverage of the Ethena token ENA, predicting that it will appreciate to $2 by the end of 2028. The report highlights that Ethena sits at the intersection of perpetual contracts, tokenization, and stablecoins, and ENA will benefit from growth in these areas as well as a newly launched buyback program. Currently, Ethena is the fourth largest stablecoin issuer, following Tether, Circle, and Sky, and is the second largest interest-bearing stablecoin issuer after Sky, with its USDe being the fastest stablecoin to reach a market capitalization of $10 billion.

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