Standard Chartered Initiates Coverage of ENA, Expects $2 by End of 2028

Odaily News: Standard Chartered has initiated coverage of Ethena's token ENA, forecasting its price will reach $2 by the end of 2028. The bank believes that Ethena sits at the intersection of perpetual contracts, tokenization, and stablecoins, and that ENA will benefit from growth in these sectors as well as its newly launched buyback program.

Standard Chartered stated that Ethena is currently the fourth-largest stablecoin issuer after Tether, Circle, and Sky, and the second-largest interest-bearing stablecoin issuer after Sky; its USDe is the fastest stablecoin to reach $10 billion in market cap.