Standard Chartered Sees Ethena Price Surge to $2 by End-2027
Standard Chartered has initiated coverage of Ethena (ENA), a stablecoin issuer. The bank believes Ethena's token could rise to $2 by the end of next year, marking an almost eight-fold increase from its current price.
Ethena currently trades at around $0.25, according to CoinMarketCap data as of September 30th. This suggests a significant potential gain for investors in the token. Standard Chartered attributes this growth potential to Ethena's unique position at the intersection of perpetual futures, asset tokenization, and the stablecoin market.
The bank also points out that Ethena has introduced a token buyback program recently, which could further support its price. It is worth noting that Ethena is one of the largest stablecoin issuers after Tether's USDT and Circle's USDC, with its synthetic dollar, USDe, reaching $10 billion in market capitalization quickly.