Standard Chartered Initiates Sky Coverage, Sees SKY Rising Fivefold by 2028

Standard Chartered's entry into Sky coverage matters less for the price target than for the framing: a major bank branding a DeFi protocol as 'DeFi's federal bank' signals that institutional research desks now see decentralized lending infrastructure as a distinct, bankable category rather than a niche. The implied fivefold call gives the token a headline number, but the more durable signal is that a regulated bank is willing to attach its name to a DeFi governance token at all. Whether other bulge-bracket desks follow with their own coverage is the open question; a single initiation is an outlier, a cluster is a repricing of the sector's institutional legitimacy.