Standard Chartered Initiates Ethena Coverage, Projects ENA at $2 by 2028

Standard Chartered has initiated research coverage on Ethena (ENA), forecasting the token's price to reach $2.00 by the end of 2028. The bank highlights Ethena as the world's fourth-largest stablecoin issuer, noting that its USDe stablecoin surpassed $10 billion in market capitalization rapidly. The report anticipates that Ethena's diversification into real-world assets (RWA) and perpetual futures basis, alongside the projected growth of the on-chain RWA market to $2 trillion by 2028, will support ENA's buyback programs and price appreciation.