{"id":78089,"date":"2026-09-13T03:52:37","date_gmt":"2026-09-13T03:52:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/analyst-sees-sky-rising-5x-beating-bitcoin-on-federal-bank-model-bitcoin-news\/"},"modified":"2026-09-13T03:52:37","modified_gmt":"2026-09-13T03:52:37","slug":"analyst-sees-sky-rising-5x-beating-bitcoin-on-federal-bank-model-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/analyst-sees-sky-rising-5x-beating-bitcoin-on-federal-bank-model-bitcoin-news\/","title":{"rendered":"Analyst Sees SKY Rising 5x, Beating Bitcoin on &#8216;Federal Bank&#8217; Model \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Standard Chartered set a $0.325 SKY target for the end of 2028.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Sky agents have borrowed $5.9 billion in USDS since September 2024.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Slower yield-bearing stablecoin growth is the bank\u2019s main stated risk.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Standard Chartered Sets Fivefold SKY Price Target<\/h2>\n<p>SKY token holders could capture substantially more value as the Sky ecosystem expands, according to Standard Chartered\u2019s first formal assessment of the asset. In a <a href=\"https:\/\/research.sc.com\/research\/api\/application\/protected\/rp\/api\/data\/render\/315240\" target=\"_blank\" rel=\"noopener noreferrer\">research note dated Sept. 11<\/a>, Global Head of Digital Assets Research Geoff Kendrick projected that SKY could reach $0.325 by end-2028, five times the $0.065 baseline stated in the note. SKY changed hands at $0.0628 on Sept. 12, slightly below the note\u2019s starting point.<\/p>\n<p>The Standard Chartered head of digital asset research linked the projected gain to a corresponding increase in the value distributed through staking rewards and token buybacks. Standard Chartered wrote:<\/p>\n<blockquote>\n<p>\u201cAs the system scales up, we expect Sky to pass on 5x more value to token holders by the end of 2028.\u201d<\/p>\n<\/blockquote>\n<p>Sky\u2019s position rests largely on USDS, its dollar-pegged cryptocurrency and principal source of liquidity for the protocol\u2019s lending system. Unlike conventional <a href=\"https:\/\/www.bitcoin.com\/get-started\/altcoins-and-tokens\/stablecoins\/\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoins designed primarily for payments and transfers<\/a>, USDS also provides access to savings and lending products. Kendrick stated:<\/p>\n<blockquote>\n<p>\u201cThe Sky ecosystem is akin to a federal bank \u2013 it issues money (stablecoins), creates a governance framework and charges a wholesale rate of interest to borrowers.\u201d<\/p>\n<\/blockquote>\n<figure id=\"attachment_847089\" aria-describedby=\"caption-attachment-847089\" style=\"width:864px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-847089\" class=\"wp-caption-text\">Standard Chartered forecasts SKY, ether, and bitcoin prices through 2028. Source: Standard Chartered Research.<\/figcaption><\/figure>\n<h2>Agent Borrowing Drives Sky\u2019s Revenue Thesis<\/h2>\n<p>The decentralized finance platform adopted the Sky name in 2024 while introducing USDS as an upgraded version of DAI and SKY as its new governance asset. The <a href=\"https:\/\/news.bitcoin.com\/defi-giant-makerdao-rebrands-as-sky-introduces-usds-stablecoin-and-sky-token\/\">MakerDAO rebranding established the current token structure<\/a>, including a conversion rate of 24,000 SKY for each MKR before applicable penalties. SKY holders now govern protocol parameters and can stake their tokens for rewards.<\/p>\n<p>Sky\u2019s agents serve as decentralized capital allocators that borrow USDS at wholesale rates and deploy it across approved yield strategies. Standard Chartered reported that agents had borrowed $5.9 billion since the model began in September 2024. A <a href=\"https:\/\/insights.skyeco.com\/insights\/sky-ecosystem-june-financial-operational-update\" target=\"_blank\" rel=\"noopener noreferrer\">Sky Frontier Foundation monthly update<\/a> separately placed agent deployments above $5.5 billion in June, including allocations involving Janus Henderson, Blackrock, Anchorage, Paypal, Securitize, and Galaxy.<\/p>\n<p>USDS supply reached $10.04 billion in June, a 96.9% increase year over year, though the total slipped from $11.14 billion in May, according to the same update. The stablecoin had held a $7.54 billion market capitalization on March 7 after posting the <a href=\"https:\/\/news.bitcoin.com\/stablecoin-market-tops-313-billion-as-skys-usds-leads-weekly-gains\/\">largest weekly percentage gain among the 10 biggest stablecoins<\/a>. Standard Chartered identified further expansion of USDS outstanding as the central driver of higher protocol revenue and token-holder distributions.<\/p>\n<h2>Buybacks and Staking Connect Growth to SKY<\/h2>\n<p>Protocol revenue reaches SKY holders through mechanisms designed to reduce circulating supply or reward token staking. Sky\u2019s <a href=\"https:\/\/sky.money\/blog\/understanding-the-sky-token\" target=\"_blank\" rel=\"noopener noreferrer\">governance token structure<\/a> uses treasury-funded open-market purchases rather than new issuance to finance staking rewards. Repurchased tokens can either be burned or redistributed to stakers under governance-controlled parameters, while maximum supply is capped at 23.46 billion SKY.<\/p>\n<p>The ecosystem has also expanded its lending architecture through stUSDS, which provides capital for borrowing against staked SKY positions. The <a href=\"https:\/\/news.bitcoin.com\/sky-unveils-risk-capital-token-in-its-expanding-defi-empire\/\">risk capital token debuted in October 2025<\/a> as a higher-risk product intended for sophisticated participants. These interconnected products create more channels for capital deployment, interest income, and protocol fees as USDS usage increases.<\/p>\n<p>Kendrick expects the value transferred to token holders to at least double over the next 12 months, he said in a Sept. 11 email. The research note added:<\/p>\n<blockquote>\n<p>\u201cSKY price gains will broadly keep pace with ETH gains and outperform BTC through end-2028.\u201d<\/p>\n<\/blockquote>\n<p>The comparison reflects Standard Chartered\u2019s separate 2028 targets of $18,000 for ETH and $300,000 for BTC. The bank named slower-than-expected growth in yield-bearing stablecoins as the principal risk to its SKY outlook.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-updates\/analyst-sees-sky-rising-5x-beating-bitcoin-on-federal-bank-model\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Standard Chartered set a $0.325 SKY target for the end of 2028. Sky agents have borrowed $5.9 billion in USDS since September 2024. Slower yield-bearing stablecoin growth is the bank\u2019s main stated risk. Standard Chartered Sets Fivefold SKY Price Target SKY token holders could capture substantially [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":78090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78089"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78089"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78090"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}