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$0.325 per token is Standard Chartered's end-2028 price target for SKY, the governance token of Sky Protocol. At the analyst-cited spot price of $0.065, the five-fold multiple works out to 400% upside.
The 172-year-old bank initiated coverage on September 11 through Geoff Kendrick, its global head of digital assets research.
| Metric | Figure | Source | Status | |---|---|---|---| | SKY current price | $0.065 | Geoff Kendrick | Reported | | SKY end-2028 target | $0.325 | Standard Chartered | Projected | | Implied upside | 400% | Standard Chartered | Projected | | SKY market cap | $1.38 billion | n/a | Reported | | USDS market cap | $6 billion+ | DeFiLlama | Reported | | sUSDS TVL | $4.59 billion | DeFiLlama | Reported | | sUSDS APY | 3.6% | DeFiLlama | Reported | Protocol mechanics: what Standard Chartered is actually valuing Sky Protocol, formerly MakerDAO, is a decentralized finance project built on Ethereum.
Its primary product is USDS, a stablecoin pegged 1:1 to the U.S. On-chain analytics platform DeFiLlama places USDS market cap above $6 billion, a share exceeding 2% of the total stablecoin market.
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