Standard Chartered Forecasts SKY Token to Reach $0.325 by End of 2028

Standard Chartered has initiated coverage of Sky's SKY token and issued a bullish forecast, calling it 'DeFi's federal bank.'

The bank expects SKY to reach $0.325 by the end of 2028, roughly five times its current price of $0.065.

Geoff Kendrick, Standard Chartered's global head of digital assets research, made this comparison due to Sky's role in issuing USDS and DAI, setting governance rules, and lending capital to ecosystem participants at wholesale rates.

The bank also believes that the amount of value flowing back to SKY holders through staking rewards and token buybacks could increase fivefold by 2028.

Standard Chartered's main thesis focuses on Sky's three primary capital-allocation agents, which have borrowed about $5.9 billion in USDS from the protocol and have combined borrowing limits of roughly $17.5 billion.

This unused capacity gives Sky a substantial potential revenue lever, with estimated income rising two to three times if borrowing expands toward existing limits while spreads remain similar.