Standard Chartered Sees 7x Gain for Ethena by End-2028

Standard Chartered has initiated coverage of Ethena's (ENA) stock, setting a price target of $2. The bank forecasts a significant gain for ENA by the end of 2028, with a predicted 7x increase in value.

The forecast is based on Ethena's buyback program, which will activate when the USDe supply reaches $7.5 billion. Currently, USDe sits at $4.9 billion, indicating that there is still some way to go before the buyback kicks in.