Standard Chartered Puts Ethena Token on Track for 669% Surge

Standard Chartered has set a $2 price target for Ethena's (ENA) token by the end of 2028, representing a potential 669% surge from its current price near $0.26.

The banking institution's research highlights the expansion of USDe, Ethena's stablecoin offering, which is expected to increase from $4.9 billion to approximately $40 billion within the forecast period.

USDe currently ranks as the fourth-largest stablecoin provider globally and second among yield-generating stablecoin providers, behind industry leaders Tether and Circle.