Standard Chartered sets 2028 SKY target at $0.325, implying more than 5x upside

Standard Chartered has set a 2028 price target of $0.325 for SKY, the native token of DeFi platform Sky, formerly MakerDAO, Cointelegraph reported. The target implies the token would need to rise more than fivefold from its current price of $0.058. In a recent report, Geoff Kendrick, the bank’s head of digital asset research, said Sky resembles a "federal bank" in that it issues stablecoins, has a governance structure, and charges borrowers wholesale rates. Kendrick added that Sky’s stablecoin ranks third by supply, and said that if the bullish scenario plays out, SKY could post gains similar to ETH by 2028 while outperforming Bitcoin. Standard Chartered is also projecting an end-2028 price target of $18,000 for ETH and $300,000 for BTC. According to CoinMarketCap, SKY was trading at $0.05818, down 2.2%, at the time of writing.