#Sky stablecoin USDS market cap surges#
Hot Topic Overview
Overview
The market cap of USDS, the stablecoin under Sky, has grown significantly recently, exceeding $2.1 billion and ranking it as the fifth-largest stablecoin. USDS's market cap has increased by nearly 99% in the past month, with a year-on-year growth of 12.50%, causing a stir in the DeFi space. The USDS issuance has reached $2 billion, of which $123 million came from DAI swaps. Sky's rapid development has made it one of the most watched stablecoins in the DeFi space.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS has recently seen a significant surge in market capitalization, attracting attention in the DeFi space. According to Defillama data, the USDS issuance has reached $2.12 billion, making it the fifth largest stablecoin. Over the past month, USDS's market cap has grown by 99%, with a year-on-year growth rate of 12.50%. This growth is primarily driven by DAI swaps, with $123 million coming from DAI swaps. USDS's rapid growth has also pushed the total stablecoin market capitalization past $209 billion, a new all-time high. While USDT remains dominant, USDS's rise indicates the market's demand for diversified stablecoins and Sky's growing influence in the DeFi space.
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Public Sentiment
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Classic Views
Sky's USDS stablecoin market cap has grown rapidly, nearly doubling in the past month to over $2.1 billion, making it the fifth largest stablecoin.
USDS's growth is primarily driven by its rapid issuance, which has increased by 99% in the past month.
USDS's growth is also partly attributed to DAI swaps, with $123 million coming from DAI swaps.
USDS's rapid growth has caused a stir in the DeFi space and has driven total stablecoin market cap to an all-time high.