#USDS, the Sky stablecoin, sees a surge in market cap.#
Hot Topic Overview
Overview
The market cap of Sky's stablecoin USDS has recently increased significantly, currently exceeding $2.1 billion, ranking fifth among stablecoins. Over the past month, the USDS market cap has grown by nearly 99%, year-on-year growth of 12.50%, and its issuance has also reached $2 billion. The rapid growth of USDS has caused a stir in the DeFi space, with its growth mainly driven by DAI swaps. Over the past month, USDS has received $123 million from DAI swaps. The growth of USDS has also pushed the total market capitalization of stablecoins to exceed $209 billion, a new all-time high.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS has seen a significant surge in market capitalization recently, exceeding $2.1 billion, ranking fifth among stablecoins. Its value has nearly doubled in the past month. The USDS issuance has reached $2 billion, increasing by 99% in the past 30 days and 12.50% year-on-year, creating a buzz in DeFi. According to DefiLlama data, USDS supply increased by 99% last month, with $123 million coming from DAI swaps. MakerDAO's TVL aggregate report shows a total value locked of £1.45 billion as of January 18, 2025. The substantial growth in USDS market cap indicates its increasing position in the DeFi ecosystem, and its growth momentum deserves attention.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky's USDS stablecoin market cap has grown rapidly, nearly doubling in the past month to over $2.1 billion.
USDS's growth has been astounding, causing a stir in the DeFi space, increasing by 99% in the last 30 days and 12.50% year-over-year.
USDS's growth is partially attributed to DAI swaps, with $123 million coming from DAI swaps in the past month.
USDS's growth has propelled the total stablecoin market cap past $209 billion, a new all-time high.