Standard Chartered Predicts SKY Could Outshine Bitcoin

Standard Chartered has set its sights on several altcoins, including SKY, the native token of the DeFi platform Sky. The bank predicts that SKY will reach a price target of $0.325 by 2028, representing more than a fivefold increase from its current level.

According to Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, Sky resembles a 'federal bank' due to its stablecoin issuance, governance structure, and wholesale interest rates charged to borrowers.

The bank's bullish outlook on SKY is driven by the wider adoption of USDS and growth in lending volumes. If this scenario materializes, Kendrick suggests that SKY could provide returns similar to Ethereum by 2028 and outperform Bitcoin.