Standard Chartered Sets $0.325 Price Target for SKY Token by 2028
Sky (SKY)
Editor:
Eugene Serbin
cryptobriefing.com reports that Standard Chartered has initiated coverage of Sky’s governance token, SKY, with a price target of $0.325 by the end of 2028. This forecast represents a fivefold increase from the $0.065 price referenced in a recent Friday report. Geoff Kendrick, the bank’s global head of digital assets research, likened Sky, formerly known as MakerDAO, to a “federal bank” due to its stablecoin issuance and governance structure.
Kendrick noted that staking rewards serve as the primary mechanism for returning value to SKY token holders, while buybacks play a secondary role. Sky currently stands as the third-largest stablecoin issuer after Tether and Circle, and is the largest issuer of yield-bearing stablecoins. The bank’s forecast suggests SKY will keep pace with Ether and outperform Bitcoin through 2028.
Standard Chartered projects Ether to reach $18,000 and Bitcoin to hit $300,000 by the end of the year. The report highlights Sky’s wholesale interest rates charged to borrowers as another similarity to traditional banking models. This coverage marks the bank’s first analysis of the token’s potential within the expanding stablecoin market.
How the market reacted
Whalio's own Binance spot order flow for SKY, measured when this story was written up on 11 September 2026. Not the outlet's figures.
SKY is currently trading at $0.05974 on Binance spot markets. Short-term buying pressure appears to be fading, with the 1-hour buy ratio at 32.4% and the 4-hour ratio at 46.0%, both below the 24-hour average of 53.0%. This indicates that recent trades have been more balanced or skewed toward sellers compared to the daily trend. Volume delta reflects this shift, showing negative flows of -$30,113 over 1 hour and -$33,561 over 4 hours, contrasting with a positive 24-hour delta of +$127,588. The 24-hour Cumulative Volume Delta closed at +$160,575, with net buying occurring in 17 of the last 24 hours. Total spot volume for the period reached $2,159,505 across 21,881 trades.
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.
Over the preceding week, SKY experienced a 12.9% price decline despite a 1.79x increase in volume compared to the average. The 7-day average buy ratio stood at 47.2%, with the latest day showing a 5.8 percentage point increase over that average. Net buying was recorded on only 3 of the 7 days, and the total volume delta for the period was -$304,469. This suggests that while trading activity has intensified, the broader weekly trend has been characterized by net selling pressure. The current 24-hour buy ratio of 53.0% is notably higher than the weekly average of 47.2%, indicating a recent shift toward buying relative to the past week's norms.