# Standard Chartered Starts Ethena Coverage With $2 2028 Target By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/25719 Published: 2026-09-30T09:53:13.000Z Updated: 2026-09-30T09:53:13.000Z Section: Investing > The bank’s coverage highlights Ethena’s buyback program and its role across perpetual contracts, tokenization and stablecoins. Standard Chartered began coverage of Ethena (ENA) with a $2 target for the end of 2028, highlighting the protocol’s buyback program and its position across perpetual contracts, tokenization and stablecoins. The coverage, dated Sept. 30, places Ethena among decentralized finance projects that have drawn attention for revenue generation, token repurchases, real-world assets and stablecoins. Ethena is described as the fourth-largest stablecoin issuer, behind Tether, Circle and Sky. Its ecosystem includes USDe, a stablecoin connected to the protocol. The bank’s latest coverage expands a series of reports on digital assets, including Uniswap, Aave, Morpho, Chainlink, Arbitrum and Sky. [Its earlier altcoin coverage]() included targets for those assets. ## Links in this article - [Its earlier altcoin coverage](https://www.tokenpost.com/news/investing/25711)