In this round, Standard Chartered’s callout picked several projects that really took off—like UNI, ARB, etc. So here we’ll sort things out: what projects has Standard Chartered called out so far, and how are these projects doing right now!
Actually, these projects are based on research reports and some core target prices written in 2026 by Geoffrey Kendrick, the head of digital asset research.
The projects he has called out so far are as follows:
Step-by-step path (as written in the research report):
AAVE: 2026 $180 → 2027 $600 → 2028 $1,200 → 2029 $2,200 → 2030 $3,500 (about 50x)
MORPHO: 2026 $3.50 → 2027 $11 → 2028 $22 → 2029 $40 → 2030 $60 (about 30x)
LINK: end of 2026 $13, then $41 / $82 / $133, and $200 by 2030
ARB: 2026 $0.50 → 2027 $1.50 → 2028 $3.50 → 2029 $6.50 → 2030 $10 (about 70x, roughly $0.13 at launch)
SKY: relatively conservative—only gives a 5x move by 2028, and clearly writes: “The upside roughly tracks ETH and outperforms BTC.”
Honestly, most of these projects are fundamentals-strong in the crypto space, and almost all are leaders in their respective tracks. These are projects I've mentioned multiple times before.
For example, Uniswap is the leader and founder of AMMs;
AAVE is the lending leader;
Morpho is the lending leader in the Base ecosystem;
Chainlink is the leading oracle;
ARB is the L2 leader: the L2 with the highest TVL and the largest ecosystem.
SKY was the original MakerDAO; the on-chain stablecoin leader DAI was originally theirs.
So overall, the projects it chooses are pretty decent, and we can look at whether the target prices it gives are reasonable. Because the timeline given is 2030—i.e., this four-year cycle.
1. Uni
The target price given is 100, while the current price is 9.2. The market cap is 5.2 billion and FDV is 8.2 billion. If the price reaches 100, then market cap would be 56.5 billion and FDV would be 89.0 billion.
And uni's all-time high price was 41 in '21—meaning this round would need to be about double the previous one. Over 4 years, it would need to grow 10x. I think it's possible, because this round just started—after that, it only needs to double each year.
2.AAVE
Scotiabank's target price is 3,500, while AAVE is currently at 140. Market cap is 2.1 billion and FDV is 2.2 billion. If it hits the 3,500 target price, the market cap would be 52.5 billion.
And AAVE's all-time high coin price is 500, which is 7x higher than the previous ATH. From the current baseline, it would need to rise 20x. The difficulty is higher than uni's, but actually, in terms of market cap, 50 billion is still possible—because a newly listed 'trump' can reach 50 billion in just a few days.
So AAVE also has a chance to reach 35,000!
3. Morpho
Scotiabank's target price is 60, while the current coin price is 2.7—about a 22x increase. Morpho's market cap is 1.4 billion and FDV is 2.7 billion. If it rises 22x, the market cap would reach 30.8 billion and FDV would reach 59.4 billion.
Then this market cap would be the same as AAVE's. Personally, I think Morpho—whether in terms of its ecosystem, TVL, or user usage—has a much bigger gap than AAVE.
So from the perspective of comparison, it probably won't reach this!
4. Link
Scotiabank's LINK target price is 200. Currently LINK is at 12, so that's another 16x move. LINK's market cap is 9.3 billion and FDV is 12.4 billion. With a 16x move, market cap would reach 148.8 billion and FDV would reach 198.4 billion.
Projects with a market cap that can reach 1 trillion are few and far between. Even Ethereum has hovered around the 200 billion mark for many years, so I currently think this market cap is not achievable.
5. ARB
Scotiabank's ARB target price is 10. Currently ARB is 0.2, so that's another 50x increase. ARB's market cap is 1.4 billion and FDV is 2.1 billion. If it reaches the $10 target price, market cap would be 70 billion and FDV would be 100 billion.
This is a bit far-fetched. An L2 can't reach that level. You should know Ethereum took many years to reach a 300 billion market cap. And ARB is still in its release phase, with no buybacks or burns—it's basically relying on some revenue from the rh chain, which is actually negligible.
6. SKY
Scotiabank's target price is 0.325. Currently SKY is trading at 0.07, which is about a 4.6x move. SKY's market cap is 1.6 billion; reaching the target price would imply a market cap of 7.4 billion.
This one is relatively reasonable—a 4.6x increase is quite reasonable.
In summary, based on this comparison method, we can conclude that this Scotiabank takes a bit of wild stabs: ARB and LINK are clearly not reasonable, while the others are relatively reasonable. As for the target picks, I think they're decent—just copy it! $UNI