Standard Chartered forecasts 5x growth for SKY token by 2028

Standard Chartered has issued a research note projecting a significant price increase for the SKY governance token, formerly known as MakerDAO. The bank has set a price target of $0.325 for SKY by 2028, which represents a potential fivefold increase from its current valuation.

Geoff Kendrick, Standard Chartered’s global head of digital assets research, characterized the Sky ecosystem as a “federal bank” due to its economic model of issuing stablecoins, maintaining a governance framework, and generating revenue from borrowers. The bank noted that the growth of the SKY token is closely tied to the adoption of the USDS stablecoin and the platform's lending activities.

In addition to the SKY forecast, Standard Chartered maintained bullish long-term outlooks for major cryptocurrencies, projecting Bitcoin to reach $300,000 and Ethereum to reach $18,000 by the end of 2028. The bank emphasized that these targets are based on long-term assumptions regarding market demand and ecosystem growth.