Standard Chartered Sees Sky Token Climbing Fivefold by 2028
Summary
- Standard Chartered said the token price of DeFi platform Sky (SKY) could rise to five times its current level by 2028.
- Standard Chartered said in a report that it set a year-end 2028 price target of $0.325 for Sky, about five times higher than its price of $0.065 when the report was written.
- Geoff Kendrick said broader USDS adoption and growth in lending volumes would increase the value accruing to Sky holders.
Forecast Trend Report by Period
Standard Chartered said the native token of decentralized finance platform Sky could rise fivefold from current levels by 2028.
Cointelegraph reported on September 11 that the global investment bank, in a recent report, set a year-end 2028 price target of $0.325 for Sky. That is about five times the $0.065 price when the report was written.
Geoff Kendrick, Standard Chartered's global head of digital assets research, compared Sky to a kind of "federal bank." He said the platform issues stablecoins, operates its own governance system and charges interest to borrowers.
Kendrick said broader adoption of Sky's USDS stablecoin and growth in lending volumes would increase the value accruing to Sky holders.
As of 8:02 p.m., Sky was trading at $0.05828, down 2.23% from a day earlier, according to CoinMarketCap.
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