Chartered Sees SKY Token Soaring Fivefold to $0.325 by 2028

Standard Chartered has initiated coverage of Sky's $SKY token, forecasting it to rise fivefold to $0.325 by 2028. The bank's global head of digital assets research, Geoff Kendrick, likens Sky to a 'federal bank' due to its issuance of stablecoins and governance framework.

Sky returns value to token holders primarily through staking rewards, with token buybacks accounting for a smaller share. According to Kendrick, the forecast implies that $SKY will keep pace with Ether and outperform Bitcoin through 2028.

The bank forecasts Ether at $18,000 and Bitcoin at $300,000 by the end of 2028. Sky is currently the third-largest stablecoin issuer behind Tether and Circle, as well as the largest issuer of yield-bearing stablecoins.