$ENA Token Price Predicted to Hit $2 by 2028 on Standard Chartered Coverage

Standard Chartered has initiated coverage of Ethena's $ENA token, predicting it will reach $2.00 by the end of 2028.

The forecast is based on a mechanism where 95% of net protocol revenue from Ethena's stablecoin $USDe is routed into open-market $ENA purchases.

As $USDe grows in circulation, these purchases become large enough relative to $ENA's market value that the token must reprice upward for the program to stay affordable, according to Standard Chartered's Global Head of Digital Assets Research Geoffrey Kendrick.