Standard Chartered has initiated coverage of Ethena with an end-2028 target of $2 on ENA, against about $0.26 today. The reasoning arrives at that number by a route worth following. The bank
Standard Chartered has initiated coverage of Ethena with an end-2028 target of $2 on ENA, against about $0.26 today.
The reasoning arrives at that number by a route worth following. The bank calculates that at $40 billion of USDe supply, annualised buybacks would absorb 23% of ENA’s circulating value, and calls that unsustainable.
