Crypto
Standard Chartered Predicts 669% Rally for Ethena's ENA Token
Standard Chartered has initiated coverage on Ethena's ENA token and set a price target of $2 by the end of 2028.
The bank expects USDe, Ethena's stablecoin, to grow from $4.9 billion to $40 billion over that period.
ENA traded at around $0.26 on Wednesday, which means the target implies about a 669% upside for investors.
The forecast is based on Ethena's growing role in stablecoins, tokenization, and perpetual contracts.