Standard Chartered Forecasts Significant Growth for SKY Token and USDS Stablecoin
- Standard Chartered predicts the SKY token will reach $0.325 by 2028, driven by demand for its USDS stablecoin.
- The expected value increase is primarily attributed to staking rewards, with buybacks contributing less.
- Sky is currently the third-largest stablecoin issuer, following Tether and Circle, and leads in yield-bearing stablecoins.
- As of now, sUSDS has a total value locked of approximately $4.5 billion with an annualized yield of about 3.6%.
- The overall stablecoin market could potentially reach $2 trillion by the end of the forecast period.
- In recent trading, SKY token rose by about 2%, despite a weekly decline of around 14%.
The growth in onchain lending and broader adoption of Sky’s USDS are key factors influencing this forecast from Standard Chartered’s Geoff Kendrick, who likens Sky to a federal bank model.
With predictions indicating that the SKY token will track closely with Ethereum while outperforming Bitcoin through the same period, this signals strong potential for investors in both Ethereum and SKY.(Source)
