Standard Chartered Forecasts ENA to Reach $2 by End-2028

Standard Chartered forecasts Ethena ENA could reach $2 by the end of 2028 as yield-bearing stablecoins grow.

Standard Chartered forecasts that Ethena’s ENA token could rise roughly sevenfold to $2 by the end of 2028, according to Cointelegraph, with the projection tied to the growth of yield-bearing stablecoins.

The forecast represents a price outlook from Standard Chartered rather than an established future outcome. Cointelegraph reported that the bank’s projection is based on expectations surrounding the expansion of stablecoins that generate yield.

Standard Chartered’s ENA Forecast

Standard Chartered’s forecast puts ENA at $2 by the end of 2028, representing a roughly 7x increase from the level referenced in the report.

The projection is specifically linked to the growth of yield-bearing stablecoins, a segment of the digital-asset market in which stablecoins are designed to provide holders with returns in addition to their role as blockchain-based digital assets.

The forecast concerns ENA, the native token associated with Ethena, and extends several years into the future. It therefore represents a longer-term market projection rather than a near-term price target.

Growth of Yield-Bearing Stablecoins

Standard Chartered’s outlook connects its ENA forecast to the anticipated development of yield-bearing stablecoins.

Unlike conventional stablecoins that generally seek to maintain a stable value relative to a reference asset, yield-bearing stablecoins are structured to provide holders with returns. Their growth can therefore influence the broader stablecoin sector by combining payment or settlement functionality with a return-generating component.

The Cointelegraph report did not provide additional figures in the X post detailing Standard Chartered’s assumptions for the size or growth rate of the yield-bearing stablecoin market.

ENA Price Target Extends to 2028

The $2 target applies specifically to the end of 2028, giving the forecast a multi-year horizon. Standard Chartered’s projection should therefore be distinguished from current market pricing or a confirmed future valuation.

A roughly 7x increase would represent a substantial change in ENA’s price from the level underlying the forecast. However, the projection itself does not establish that the token will reach the stated target.

The forecast instead reflects Standard Chartered’s assessment of how the growth of yield-bearing stablecoins could affect Ethena and ENA over the period through the end of 2028.

For now, $2 remains a forecast from Standard Chartered, with the stated target date set for the end of 2028 and the underlying thesis centered on the growth of yield-bearing stablecoins.

Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.