Standard Chartered initiated coverage of Ethena, forecasting ~8x $USDe growth to ~$40bn and $ENA to $2 by end-2028 on buybacks as DeFi and TradFi converge
Standard Chartered initiated coverage of Ethenaโs ENA with a $2.00 price target by end-2028, implying roughly 7x upside from $0.28.
The bank forecasts ENA at $0.42 by end-2026, $1.10 in 2027 and $2.00 in 2028, as USDe supply potentially grows to $40 billion and token buybacks scale alongside it.
Standard Chartered has initiated research coverage of Ethena.
They forecast potential USDe growth of ~8x in the next 2 years as the convergence of DeFi and TradFi accelerates.
Unclear why they are so bearish, but worth a read regardless: