Standard Chartered Bank calls out SKY: target price of $0.325 by the end of 2028, with 5x upside potential from current levels.

BlockBeats news, September 11 — Standard Chartered has initiated coverage on the DeFi protocol Sky, setting a target price of $0.325 for the SKY token by the end of 2028, a fivefold increase from the $0.065 cited in the report. The bank expects that as USDS adoption and lending capacity expand, the value Sky passes to token holders by 2028 will reach more than five times the current level.

Geoff Kendrick, Standard Chartered's global head of digital asset research, said Sky is the decentralized finance (DeFi) platform formerly known as MakerDAO, capable of issuing stablecoins, establishing a governance framework, and charging wholesale rates to borrowers, making it akin to a "federal bank." Sky mainly returns value to SKY holders through staking rewards, with token buybacks accounting for a smaller share.

It should be noted that Standard Chartered has initiated coverage on crypto projects in multiple research reports this year, most of which posted solid gains after the reports, with its accurate prediction of UNI's target price this year standing out as its "crowning achievement."