Standard Chartered's Bullish Research Boosts Sky (SKY) by 4%

Sky (SKY) has surged 4% in the last 24 hours due to bullish new research coverage and a generally risk-on crypto backdrop.

The primary driver of this move is Standard Chartered's newly published research coverage on SKY, which lays out a bullish long-term valuation case and casts Sky as a leading DeFi 'federal bank' in stablecoins and yield-bearing assets.

The research from Standard Chartered sets a price target of about $0.325 for end-2028, roughly five times the current level, implying '5x' upside over the next few years.

This supportive market backdrop has been accompanied by increased speculative trading around a significant news headline, as well as intraday short covering and volume spikes near local support.