Standard Chartered Sees Sevenfold Surge in Ethena Token by 2028
Standard Chartered has set its sights on Ethena's (ENA) token, predicting it will surge sevenfold to $2 by the end of 2028. The bank initiated coverage with a target price of $0.42 for 2026 and $1.10 for 2027, implying a significant upside from the current price.
The analysts at Standard Chartered cited Ethena's buyback program and shrinking token supply as key factors supporting its long-term upside. The bank noted that Ethena will use 95% of net revenue to buy back and burn ENA tokens, reducing vesting-related selling pressure.
In comparison, Standard Chartered predicts Bitcoin (BTC) will hit $300,000 and Ethereum (ETH) $18,000 by the end of 2028. The bank's price target for Ethena implies a 900% upside from current levels, beating its forecast gains for both Bitcoin and Ethereum.
The analysts at Standard Chartered also highlighted Uniswap (UNI) as a benchmark, noting that the token roughly tripled in value after the bank began covering it in June 2026. To match its buybacks, ENA would have to increase by about seven times, the bank said.