Standard Chartered Predicts ENA Token to Reach $2 by 2028

Standard Chartered has initiated coverage of Ethena's ENA token, forecasting it to reach $2 by the end of 2028. This target implies returns far exceeding its projections for both Bitcoin and Ethereum over the same period.

The bank sees a staged path for the token: $0.42 by the end of 2026, $1.10 by the end of 2027, and $2 by the close of 2028. ENA currently trades near $0.25, leaving it about 87% below the bank's long-term objective.

The call is notable for how it positions Ethena relative to the two largest cryptocurrencies. Standard Chartered has previously forecast Bitcoin reaching $300,000 and Ether climbing to $18,000 by the end of 2028.