Standard Chartered predicts Ethena’s USDe stablecoin to reach $40B by 2028
- Standard Chartered forecasts Ethena’s USDe stablecoin supply to grow eightfold to $40 billion by the end of 2028.
- The bank has set a price target of $2 for Ethena’s ENA token, up from its current price of $0.28.
- USDe is expected to outpace overall stablecoin market growth, with BTC projected at $300,000 and ETH at $18,000 by the same date.
- Ethena is diversifying into DeFi and institutional lending, generating a blended yield of approximately 5.2%.
- If USDe reaches $40 billion, annual ENA buybacks could represent about 23% of its circulating market capitalization.
The growth forecast for USDe aligns with Ethena’s strategic shift towards diversified yield sources beyond traditional crypto markets, as it aims to tap into the expanding tokenized asset market projected to reach $4 trillion by the end of the period.
With ENA currently trading at approximately $0.27 and up significantly over recent weeks, Standard Chartered’s analysis suggests strong potential for future growth linked to USDe’s expansion efforts.(Source)
