CompanyLonger-termNeutralMonths+Benzinga

Standard Chartered Targets LINK At $200, Joining Hyperbullish Bitcoin, Ethereum Calls

Reviewed by ClearTape · Source: Benzinga

Key takeaways

Standard Chartered initiated coverage of Chainlink with a $200 price target by the end of 2030, implying a roughly 25-fold gain from the token's current price…
$110 billion - Chainlink's total value secured
70% - Chainlink's market share of oracle-dependent value in DeFi globally
80% - Chainlink's market share of oracle-dependent value on Ethereum

What happened

Standard Chartered initiated coverage of Chainlink with a $200 price target by the end of 2030, implying a roughly 25-fold gain from the token's current price of $8.25.

Why it matters

The note puts Chainlink's total value secured above $110 billion, covering roughly 70% of oracle-dependent value in DeFi globally and more than 80% on Ethereum. This is the fourth DeFi initiation from Kendrick this summer, all built on the same 37-fold DeFi growth forecast.

Short-term and longer-term

Short-term. The 20-day and 50-day EMAs cluster just below price at $8.255 and $8.25, the first time price has held above both since May.

Longer-term. Over the next few months, the question for Standard Chartered Targets is whether this changed the longer case, or it is one event.

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