Chartered Outlook: SKY to Outperform Bitcoin, Ethereum Price Targets Skyrocket

Standard Chartered has once again demonstrated its interest in alternative cryptocurrencies, this time setting its sights on $SKY, the native token of DeFi platform Sky. In a recent report, the bank forecasted that $SKY will reach a price target of $0.325 by 2028, representing more than a fivefold increase from its current level.

This prediction is based on the bank's analysis of Sky's stablecoin, which ranks third in terms of supply and has a governance structure similar to a 'federal bank'. According to Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, wider adoption of USDS and growth in lending volumes are key factors supporting the upside potential for $SKY.

The bank also maintained its long-term bullish outlook for both Bitcoin and Ethereum, forecasting Ethereum's price to be $18,000 and Bitcoin's price to be $300,000 by the end of 2028. Kendrick noted that if bullish scenarios materialize, $SKY could provide returns similar to Ethereum by 2028 and outperform Bitcoin.