Chartered Sees Sky Token Soaring Fivefold to $0.325 By 2028

Standard Chartered has initiated coverage of the Sky token (SKY) with a bullish price target. According to the bank's global head of digital assets research, Geoff Kendrick, SKY could reach $0.325 by the end of 2028.

This represents a fivefold increase from its current price of $0.065. The forecast implies that SKY will keep pace with Ether and outperform Bitcoin through 2028, with Ether expected to hit $18,000 and Bitcoin $300,000 by then.

Kendrick compared Sky to a 'federal bank' due to its stablecoin issuance, governance framework, and wholesale interest rates charged to borrowers. The platform primarily returns value to token holders through staking rewards and token buybacks.