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A fivefold gain by the end of 2028 is what one of the world's major banks projects for a cryptocurrency token, following its decision to formally initiate coverage of the project behind it.
Initiating coverage, in financial research, means analysts commit publicly to tracking an asset and publishing price estimates on it.
Standard Chartered Bank has made that commitment for Sky, setting $0.325 as its price target for the SKY token by end-2028.
DeFi, short for decentralized finance, refers to lending and borrowing services built on public blockchains, where transactions run without a traditional bank or broker intermediating.
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