Standard Chartered Forecasts Sky Token Value to Surge Fivefold
Standard Chartered has made a prediction about the price of SKY token by 2028. According to Geoff Kendrick, global head of digital assets research at Standard Chartered, the value Sky passes on to SKY token holders will increase five times by the end of 2028 from its current level.
The current market value of SKY is $1.4 billion, and it has been gaining traction in recent days, up 11% over 30 days. Kendrick compared Sky to a 'federal bank' because it issues stablecoins, creates a governance framework, and charges a wholesale rate of interest to borrowers.
The forecast suggests that the growth of SKY will be driven by lending and stablecoin expansion, with token buybacks playing a smaller role. Standard Chartered also projects that the overall stablecoin market could reach $2 trillion by the end of 2028.