British banking giant Standard Chartered continues to keep an eye on altcoins with upside potential, in addition to Bitcoin and Ethereum.
At this point, one of these altcoins was Ethereum, a synthetic dollar protocol built on Ethereum.
Accordingly, Standard Chartered analyzed its stablecoin issuer Ethereum (ENA) for the first time and predicted a price of $2.
A Striking Price Target for ENA!
In its latest assessment, Standard Chartered announced a significant price target for Ethereum’s native token, ENA. The bank projected that ENA could reach $2 by the end of 2028. This target represents an expected increase of approximately eight times compared to current levels.
In its assessment, the bank noted that Ethena operates at the intersection of perpetual futures, tokenization, and stablecoin sectors. According to the bank, the expected growth in these areas could support Ethena’s future use cases and revenue potential.
Ethereum’s stablecoin, USDe, was also highlighted in the report. The bank noted that Ethereum is currently the world’s fourth-largest stablecoin issuer after Tether, Circle, and Sky, and that Ethereum’s USDe is the fastest stablecoin to reach a market capitalization of $10 billion.
In addition, the bank stated that the ENA token buyback program could also be an important factor in terms of the token price.
He also noted that Ethereum is currently the world’s fourth-largest stablecoin issuer after Tether, Circle, and Sky, and that Ethereum’s USDe is the fastest stablecoin to reach a market capitalization of $10 billion.
*This is not investment advice.
