#Sky Stablecoin Market Cap Surges#
Hot Topic Overview
Overview
The market cap of USDS, a stablecoin under Sky, has recently surged, exceeding $2.1 billion and ranking as the fifth-largest stablecoin. Over the past month, USDS issuance has increased by 99%, with a year-on-year growth of 12.50%, causing a stir in the DeFi space. Among them, $123 million came from DAI swaps. The rapid growth of USDS has also propelled the total market capitalization of stablecoins to exceed $209 billion, hitting a new all-time high.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS has recently seen a surge in market capitalization, attracting market attention. According to Defillama data, USDS market cap has surpassed $2.1 billion, ranking fifth among stablecoins, with a 99% increase in the past month. This growth is mainly driven by the rapid increase in USDS issuance, with $123 million coming from DAI swaps. The rapid growth of USDS has also fueled the prosperity of the Sky ecosystem. As of January 18, 2025, the total value of the Sky ecosystem has reached £1.45 billion. The rise of USDS also reflects the growing demand for stablecoins in the DeFi market and the success of the Sky team in stablecoin issuance and ecosystem development.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky stablecoin USDS market cap has nearly doubled in the past month, growing 99% to over $2.1 billion, making it the fifth largest stablecoin.
USDS issuance growth is primarily driven by DAI swaps, with $123 million coming from DAI swaps.
USDS growth has caused a stir in DeFi, with a year-on-year growth rate of 12.50%.
Sky's total value locked (TVL) was £1.45 billion as of January 18, 2025.