Standard Chartered Initiates Coverage on Ethena, Predicts ENA to Reach $2 by 2028

Standard Chartered has initiated coverage on Ethena, predicting its native ENA token could rally to $2 within two years. Analyst Geoff Kendrick cited bullish catalysts including tokenization plans, perpetual contracts, and token buybacks. The bank's first coverage of Ethena signals growing institutional interest in the protocol.