Standard Chartered Sets $0.325 Target for SKY by 2028, Needs Over 5x Rise

Global banking giant Standard Chartered (SC) has set a 2028 target price of $0.325 for the native token of decentralized finance platform Sky (SKY, formerly MakerDAO), according to CoinTelegraph. To reach this target, SKY would need to rise more than five times from its current trading level of approximately $0.058.

SC's head of digital asset research, Geoff Kendrick, explained in a recent report that Sky resembles a 'central bank' due to its issuance of stablecoins, governance structure, and imposition of wholesale interest rates on borrowers. The platform's stablecoin ranks third by supply volume. If an upward scenario materializes, SKY could see price growth comparable to Ethereum (ETH) by 2028, potentially outperforming Bitcoin, Kendrick noted.

Meanwhile, SC also projects a year-end 2028 target of $18,000 for ETH and $300,000 for BTC. As of CoinMarketCap data, SKY is trading at $0.05818, down 2.2%.