#Sky stablecoin USDS market cap doubled#
Hot Topic Overview
Overview
The market cap of USDS, a stablecoin under Sky, has nearly doubled in the past month, surpassing $2.1 billion, placing it fifth among stablecoins. Its market cap has surged by 99% in the past 30 days and by 12.50% year-over-year, causing a stir in the DeFi space. The growth in USDS issuance is primarily attributed to DAI swaps, with $123 million coming from DAI swaps. USDS' rapid growth has also propelled the total stablecoin market cap to break through $209 billion, setting a new all-time high.
Ace Hot Topic Analysis
Analysis
The market cap of USDS, a stablecoin under Sky, has nearly doubled in the past month, exceeding $2.1 billion and making it the fifth-largest stablecoin. Its issuance has increased by 99% in the past 30 days, with a year-on-year increase of 12.50%, causing a stir in the DeFi space. According to Defillama, the growth of USDS is mainly driven by DAI swaps, with $123 million coming from DAI swaps. The rapid growth of USDS has also pushed the total market cap of stablecoins to surpass $209 billion, setting a new record high. Although USDT still dominates with a market share of 66.12%, the rise of USDS demonstrates the market's demand for diversified stablecoins and Sky's influence in the DeFi space.
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Public Sentiment
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Classic Views
Sky stablecoin USDS market cap has nearly doubled in the past month, with a growth rate of 99.09%, USDS issuance reached 2.12 billion USD, becoming the fifth largest stablecoin, causing a sensation in the Defi field, USDS growth is mainly due to DAI swap, of which 123 million USD came from DAI swap, Sky's USDS market cap growth also boosted the total stablecoin market cap to over 209 billion USD, setting a new historical high