Standard Chartered Initiates ENA Coverage With $2 Target

Crypto Insight Summary: Crypto Insight Summary: Standard Chartered forecasts a 7x gain by end-2028 on the strength of Ethena's buyback program. The buyback switches on when USDe supply reaches $7.5 billion; USDe sits at $4.9 billion. Crypto Insight Analysis: Direction: Bullish ETHA Impact: Minor Impact Horizon: Long-term (1 quarter-1 year) Reasoning: Analyst upgrade and buyback program could drive ETHA demand. Crypto Insight Analysis: Direction: Bullish ETHA Impact: Minor Impact Horizon: Long-term (1 quarter-1 year) Reasoning: Analyst upgrade and buyback program may boost ETHA demand.