Standard Chartered Sets ENA $2 target, sees $40B USDe supply

By Michael FawnStandard Chartered has initiated coverage of Ethena with a decidedly bullish outlook, projecting in a new client report that the protocol’s ENA token could surge to $2 by the end of 2028. The bank’s forecast also anticipates that Ethena’s synthetic dollar, USDe, will see its circulating supply expand eightfold to $40 billion over the same period.The price target represents a potential upside of approximately 669% from ENA’s price of $0.26 on Wednesday. This