Standard Char2026-09-30 08:16:17Standard Chartered Initiates Coverage on ENA, Sees $2 Price by End of 2028Standard Chartered has initiated coverage on Ethena’s ENA token for the first time, according to The Defiant, and projects the token could reach $2 by the end of 2028. Geoff Kendrick, the bank’s global head of digital assets research, said Ethena sits at the intersection of perpetuals, tokenization and stablecoins, positioning ENA to benefit from growth across those segments as well as from a newly launched buyback program. Kendrick also described Ethena as the fourth-largest stablecoin issuer, behind Tether, Circle and Sky, and the second-largest yield-bearing stablecoin issuer after Sky. He added that USDe, Ethena’s stablecoin, was the fastest stablecoin to reach a $10 billion market capitalization. The note marks Standard Chartered’s first formal research coverage of ENA.450
Standard Char2026-09-30 08:23:47Standard Chartered Starts Coverage on Ethena, Sees ENA at $2 by End-2028Standard Chartered has initiated research coverage on Ethena, according to a report issued by Geoff Kendrick, the bank’s global head of digital assets research. The report projects that ENA could rise to $2 by the end of 2028. It also describes Ethena as the world’s fourth-largest stablecoin issuer, behind Tether, Circle, and Sky. Standard Chartered said USDe, launched at the end of 2023, became the fastest stablecoin to reach a $10 billion market capitalization. The bank added that yield-bearing stablecoins currently account for about 5% of the broader stablecoin market and said that share is expected to grow as demand for yield increases. On the revenue side, the report said USDe has moved beyond its early dependence on crypto basis trading, which once delivered annualized yields above 20%, and has expanded into real-world assets and equity perpetual futures basis strategies. Standard Chartered also forecast that on-chain RWA could grow from about $40 billion today to $2 trillion by the end of 2028, which it said would support ENA buybacks and price appreciation.480
Standard Char2026-09-19 23:23:48Standard Chartered’s Geoff Kendrick sees ARB at $10 by the end of 2030Standard Chartered’s head of digital asset research, Geoff Kendrick, said ARB could reach $10 by the end of 2030, laying out a multi-year price path that starts at $0.5 in 2026 and rises to $6.5 in 2029 before hitting the final target. The forecast uses $0.14 as a reference price and compares the 2030 target with ARB’s current price of about $0.21, implying a 48x move. Kendrick tied that view to expected growth in Arbitrum’s revenue. Monthly revenue is projected to reach $5 million, more than five times the level seen before the launch of Robinhood Chain. Robinhood Chain went live on July 1 as a public mainnet built on Arbitrum and aimed at tokenized assets and decentralized finance applications. Under the Expansion Program, 10% of protocol net revenue is set to flow back to the Arbitrum ecosystem, with 8% allocated to the ArbitrumDAO treasury and 2% directed to the Arbitrum Developer Guild. Standard Chartered also flagged key risks to the forecast, including slower tokenization adoption, competition from other blockchains, and the fact that ARB currently has no direct mechanism to capture Arbitrum revenue.380
Standard Char2026-09-15 11:59:20Standard Chartered Starts Coverage on Arbitrum, Sets $10 ARB Target for End of 2030Standard Chartered has started coverage of Arbitrum’s ARB token for the first time, according to The Block, with a price target of $10 by the end of 2030. The bank said that level would represent roughly a 70-fold increase from the current price cited in the report. Geoff Kendrick, the bank’s global head of digital assets research, told clients that ARB is expected to outperform both Bitcoin and Ethereum over the forecast period. In the same set of projections, Standard Chartered said Ethereum could reach $4,000 by the end of 2026 and $40,000 by the end of 2030, while Bitcoin could hit $100,000 by the end of 2026 and $500,000 by the end of 2030. Kendrick also described Arbitrum as an enterprise-grade infrastructure provider helping traditional financial institutions move assets on-chain. Under Arbitrum’s expansion plan, the network can collect a rolling fee equal to 10% of net protocol revenue from external chains using its technology stack. After Robinhood Chain launched on July 1, the bank estimated Arbitrum could receive about $5 million in AEP fees in September.730
Standard Char2026-09-13 03:20:49Standard Chartered says SKY could reach $0.325 by the end of 2028Standard Chartered’s global head of digital assets research, Geoff Kendrick, said in a research note that SKY could rise to $0.325 by the end of 2028, five times the note’s base-case price of $0.065. The bank said it expects SKY’s gains to broadly track ETH and outperform Bitcoin before the end of 2028. The note also outlined operating data tied to the Sky protocol, a decentralized finance platform that adopted its current name in 2024 and launched the USDS stablecoin and SKY governance token. According to the report, Sky-related agents have borrowed $5.9 billion in USDS since September 2024. USDS supply reached $10.04 billion in June, up 96.9% year over year, though that was below May’s $11.14 billion. Standard Chartered said additional growth in USDS supply would increase protocol revenue and distributions to token holders, with staking rewards and token buybacks serving as mechanisms to pass value to SKY holders. The bank added that the value distributed to holders could at least double over the next 12 months, while slower-than-expected growth in yield-bearing stablecoins remains the main risk to SKY’s outlook.1020
Standard Char2026-09-11 10:57:41Standard Chartered initiates coverage on SKY, sets $0.325 price target for end-2028Standard Chartered has initiated coverage of Sky’s SKY token and set an end-2028 price target of $0.325, compared with the $0.065 reference price cited in the report. The bank said Sky could deliver more than five times the current level of value to token holders by 2028 as USDS adoption rises and lending capacity expands. Geoff Kendrick, the bank’s global head of digital assets research, described Sky — formerly MakerDAO — as a decentralized finance platform that can issue stablecoins, build governance structures and charge borrowers a wholesale rate, making it similar to a “federal bank.” He also said value is returned to SKY holders mainly through staking rewards, while buybacks make up a smaller share. Standard Chartered said Sky is the world’s third-largest stablecoin issuer after Tether and Circle, and the largest issuer of yield-bearing stablecoins. The bank expects SKY to broadly track Ether and outperform Bitcoin through 2028, while its price forecasts for ETH and BTC over the same period stand at $18,000 and $300,000. DeFiLlama data cited in the report showed Sky’s yield-bearing sUSDS token had $4.5 billion in total value locked and a 3.6% annualized yield.1330
Standard Char2026-09-11 11:01:49Standard Chartered starts coverage on SKY with a $0.325 price target for end-2028Standard Chartered has initiated coverage of SKY, the token of Sky, and set a year-end 2028 price target of $0.325. Based on the $0.065 reference price cited in the report, the target implies roughly 5x upside. The bank said the value passed on to token holders could rise to more than five times current levels by 2028 as USDS adoption expands and lending capacity grows. Geoff Kendrick, the bank’s global head of digital assets research, described Sky — formerly MakerDAO — as a decentralized finance platform that can issue a stablecoin, build a governance framework, and charge wholesale rates to borrowers, making it similar to a “federal bank.” The report also said Sky mainly returns value to SKY holders through staking rewards, while token buybacks account for a smaller share. BlockBeats added that Standard Chartered has started coverage on several crypto projects this year, and its call on UNI’s price target has been seen as one of its standout notes.1010
Standard Char2026-09-03 10:29:22Standard Chartered research head says Solana is positioned around ultra-low cost and high speedGeoff Kendrick, global head of digital assets research at Standard Chartered, said Solana’s specific positioning lies in ultra-low cost and very high speed, according to a digital-asset research report cited by Techub News. He said those characteristics open the door to use cases such as small-value payments, particularly as development moves toward agentic AI. Kendrick also highlighted Solana’s potential to support a future AI agent economy. The remarks focus on how Solana’s network profile could fit payment and AI-related applications rather than making a broader market call. The comments were attributed to Kendrick in the report, with Techub News identifying the source as a research note on digital assets.370
