#Sky stablecoin USDS market cap surpasses $2.1 billion#
Hot Topic Overview
Overview
Sky stablecoin USDS recently surpassed $2.1 billion in market capitalization, rising to fifth place in the stablecoin rankings. Its market cap has surged nearly 99% in the past month and its year-over-year growth rate has reached 12.50%, making waves in the DeFi space. The rapid increase in USDS issuance is mainly attributed to DAI swaps, with $123 million coming from DAI swaps. Currently, USDS's total market capitalization has exceeded $2.161 billion, and its market cap growth momentum is strong, making it a coin to watch in the future.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS recently surpassed a market capitalization of $2.1 billion, ranking fifth in the stablecoin market, demonstrating an impressive growth rate. Over the past month, USDS's market capitalization has increased by nearly 99%, with a year-over-year growth rate reaching 12.50%. This has garnered significant attention within the DeFi realm. According to Defillama data, USDS supply has grown by 99% over the past month, with $123 million stemming from DAI swaps. Sky's rapid expansion is largely attributed to its applications within DeFi and collaborations with projects like MakerDAO. Currently, Sky's total value locked has reached £1.45 billion. USDS's swift growth reflects the ongoing expansion of the stablecoin market and the rising interest of investors in the DeFi landscape.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky stablecoin USDS market cap is growing rapidly, nearly doubling in the past month to reach $2.161 billion, ranking as the fifth largest stablecoin.
USDS issuance has increased by 99% in the past month, with a year-over-year increase of 12.50%, causing a stir in the DeFi space.
The growth of USDS is partially attributed to DAI swaps, with $123 million coming from DAI swaps.
Sky's USDS growth has driven the total stablecoin market cap above $209 billion, setting a new record.