#Sky stablecoin USDS market cap surged#
Hot Topic Overview
Overview
The market capitalization of Sky's stablecoin USDS has surged recently, exceeding $2.1 billion and becoming the fifth largest stablecoin. Over the past month, the market cap of USDS has grown nearly 99%, with a year-on-year growth rate reaching 12.50%. This growth trend has created a stir in the DeFi industry, with $123 million coming from DAI swaps. The rapid growth in USDS issuance has cemented its position as a significant player in the stablecoin market.
Ace Hot Topic Analysis
Analysis
The market cap of USDS, the stablecoin under Sky, has surged recently, exceeding $2.1 billion and ranking fifth among stablecoins. It has grown by 99% in the last month and 12.50% year-on-year, causing a stir in the DeFi space. USDS issuance has increased by 99% in the past month, with $123 million coming from DAI swaps. The rapid growth of USDS has also boosted Sky's total value, which reached £1.45 billion as of January 18, 2025. The growth of USDS could be attributed to the development of Sky's ecosystem and increased user demand for stablecoins.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky's USDS stablecoin market capitalization has nearly doubled in the past month, growing by 99%,
USDS issuance has reached $2.12 billion, making it the fifth-largest stablecoin.
USDS's growth has caused a stir in the decentralized finance space.
USDS's growth has come in part from DAI swaps.