Standard Chartered Bank's research report initiates coverage on ENA, projecting it could rise to $2 by the end of 2028.

BlockBeats news, September 30 - Standard Chartered has initiated coverage on Ethena's token ENA, projecting it will appreciate to $2 by the end of 2028.

The Standard Chartered report points out that Ethena is at the intersection of perpetual contracts, tokenization, and stablecoins. ENA will benefit from growth in these areas and the newly launched buyback program. It also states 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 a market cap of $10 billion.