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Standard Chartered sees 7x upside for Ethena by end-2028

The bank said Ethena’s buyback program would activate once USDe supply reaches $7.5 billion, up from $4.9 billion.

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Standard Chartered has initiated coverage on Ethena with a target that implies a roughly 7x gain by the end of 2028, according to The Defiant.

The forecast is tied to Ethena’s buyback program, which is set to switch on when USDe supply reaches $7.5 billion, the outlet said.

As of the reference point in the report, USDe supply was $4.9 billion, setting the expected path toward the program’s activation threshold.

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