Standard Chartered started coverage of Ethena and set a $ENA target of $2 by the end of 2028

Standard Chartered started coverage of Ethena and set a [$ENA](https://dexscreener.com/ethereum/0xc3db44adc1fcdfd5671f555236eae49f4a8eea18) target of $2 by the end of 2028

$ENA, ethereum: 0x57e114b691db790c35207b2e685d4a43181e6061 · DexScreener

$ENA is currently trading at around $0.26. The bank expects USDe to grow from $4.9 billion to $40 billion. The next major test: the final investor unlock on October 5.

Facts

The fee switch was approved on 03.09: the main buyback ladder turns on when USDe supply reaches $7.5 billion, compared with around $4.9 billion now. The first tier allocates only 5% of gross revenue to buybacks. [@DoCryptoBred, September 3, 2026]
The remaining investor ENA unlocks on October 5 (around 14% of circulating supply), and StablecoinX (~3 billion ENA) will be able to sell only with written consent from Ethena Foundation. [@DoCryptoBred, September 17, 2026]
The Defiant reported that Standard Chartered started coverage of Ethena and forecasts $2 for $ENA by 2028. [@DefiantNews, September 30, 2026]
The Block: the bank expects USDe supply to grow from $4.9 billion to $40 billion as Ethena diversifies the assets backing its yield. [@TheBlockCo, September 30, 2026]
$ENA price on Binance spot is 0.2595 USDT, up 2.77% in 24 hours. [exchanges, September 30, 2026]

Watching

How the market absorbs the October 5 unlock: someone will have to buy the new tokens.
Whether USDe supply reaches $7.5 billion, the level that activates the main ENA buyback.

post from Telegram channel КриптоАтака 24 ⚡️ · post from Telegram channel BredoStrategy