Standard Chartered Forecasts Altcoin to Outperform Bitcoin by 2028

Standard Chartered has added another altcoin to its watchlist and is predicting significant growth for the asset. The British banking giant has set a price target of $0.325 for SKY, the native token of DeFi platform Sky (formerly MakerDAO), by 2028.

This represents a more than fivefold increase from SKY's current price of $0.06. According to Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, the key factors supporting SKY's upside potential are wider adoption of USDS and growth in lending volumes.

Kendrick also drew an analogy between Sky and a federal bank due to its issuance of stablecoins, governance structure, and charging wholesale interest rates from borrowers. He believes that if bullish scenarios materialize, SKY could provide returns similar to Ethereum by 2028 and outperform Bitcoin.