Standard Chartered Projects SKY 5x Growth by 2028 on Federal Bank Model
Sky (SKY)
Editor:
Eugene Serbin
news.bitcoin.com reports that Standard Chartered expects SKY to rise fivefold to $0.325 by the end of 2028 from a $0.065 baseline. Global Head of Digital Assets Research Geoff Kendrick links this projection to expanding USDS supply, agent borrowing, and token buybacks. The bank describes the Sky ecosystem as akin to a federal bank that issues stablecoins and charges wholesale interest rates to borrowers.
SKY holders can capture value through staking rewards and treasury-funded open-market purchases that reduce circulating supply. Agents have borrowed $5.9 billion since the model began in September 2024, deploying capital through partners like Blackrock and PayPal. USDS supply reached $10.04 billion in June, marking a 96.9% year-over-year increase.
Kendrick stated that as the system scales, Sky will pass on 5x more value to token holders by the end of 2028. The protocol uses stUSDS to provide capital for borrowing against staked SKY positions. Kendrick expects value transferred to holders to at least double over the next 12 months. He added that SKY price gains will broadly keep pace with ETH gains and outperform BTC through end-2028.
How the market reacted
Whalio's own Binance spot order flow for SKY, measured when this story was written up on 13 September 2026. Not the outlet's figures.
SKY is trading at $0.06300 with a 1-hour buy ratio of 58.2%, indicating strong short-term buying pressure. This contrasts with a 4-hour buy ratio of 54.4% and a 24-hour ratio of 43.5%, showing that buying interest is accelerating in the immediate term. The 1-hour volume delta is positive at +$6,510, while the 24-hour delta is negative at -$189,989. This divergence suggests that recent trades are favoring buyers despite a net outflow over the full day. A positive volume delta means buyers are initiating more market orders than sellers, while a negative delta indicates sellers are dominating the total volume. The 24-hour cumulative volume delta closed at -$178,244, confirming that selling pressure has outweighed buying over the longer timeframe.
The latest daily buy ratio of 49.8% sits at the 54th percentile of the last 322 days, against a median of 49.4% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for SKY, averaged over the days leading up to the story.
The 24-hour buy ratio of 43.5% is 6.8 percentage points lower than the 7-day average of 50.3%. This indicates that today's buying intensity is below the recent weekly norm. Volume relative to the average is 0.87x, showing that trading activity is lighter than usual. Over the preceding 8 days, the price has dropped 10.7% with a total volume delta of +$256,524. This week shows 5 days of net buying out of 7, suggesting a generally positive trend that today's lower ratio slightly deviates from.