Bank analyst Jeff Kendrick provided the first forecast for the token—given the current price of around $0.25, this represents an almost 8-fold increase.
• The analyst expects USDe’s volume to reach $40 billion, compared to the current $4.9 billion.
• Previously, USDe’s yield was almost entirely driven by the funding rate from crypto perpetuals (over 20% annually); now, institutional lending via FalconX is being added ($310 million has already been deployed).
• Once USDe’s volume exceeds $7.5 billion, 95% of the protocol’s net revenue will be directed toward a permanent ENA buyback.
A separate driver is the growth of real asset tokenization, which Standard Chartered estimates at $2 trillion by 2028, compared to the current $40 billion.
ENA +6.5%