Standard Chartered Predicts ENA Will Hit $2 by 2028
Standard Chartered sees ENA topping $2 as Ethena pushes its USDe synthetic dollar toward a $40 billion market cap.
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Key takeaways
- Standard Chartered expects ENA to reach $2 by late 2028, implying over 600% upside.
- The bank projects Ethena's USDe synthetic dollar will grow eightfold to hit $40 billion.
- Planned token buybacks are expected to significantly boost ENA's underlying value.
600% upside. That is what Standard Chartered is dangling for Ethena's governance token, projecting ENA hits $2 by the end of 2028 from where it sits today.
scaling USDe to $40 Billion
That bold call relies almost entirely on USDe, Ethena's synthetic dollar. Standard Chartered expects USDe's supply to surge eightfold over the next four years, reaching a $40 billion market cap.
Growth alone won't do it. The bank points to token buybacks as the main trigger, arguing that expanding protocol revenues will funnel value straight back to ENA holders and reshape its tokenomics for the long haul.
Why it matters
When a major TradFi bank backs an eightfold surge for a synthetic dollar, institutional faith in alternative stablecoin models is clearly building. If USDe actually hits $40 billion, aggressive buybacks could turn ENA into one of DeFi's highest-yielding governance assets. The catch? Crypto yield markets must stay lucrative enough to keep pulling in billions.
Source: The Block
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