#Sky stablecoin USDS market cap surges#
Hot Topic Overview
Overview
The market cap of USDS, the stablecoin under Sky, has recently seen a significant surge, surpassing $2.1 billion and ranking as the fifth-largest stablecoin. Over the past month, USDS market cap has grown by nearly 99%, representing a year-on-year growth of 12.50%, creating a stir in the DeFi space. The increase in USDS issuance is primarily attributed to DAI swaps and the development of Sky's own ecosystem. Currently, Sky's total value locked has reached £1.45 billion.
Ace Hot Topic Analysis
Analysis
The market cap of USDS, the stablecoin under Sky, has recently surged, exceeding $2.1 billion and ranking fifth among stablecoins. Over the past month, USDS's market cap has grown by 99%, with a year-over-year increase of 12.50%, making waves in the DeFi space. According to Defillama data, USDS issuance has grown by 99% in the last month, with $123 million coming from DAI swaps. USDS's rapid growth could be attributed to the development of Sky's ecosystem and increased user demand for stablecoins. Notably, Sky's Total Value Locked (TVL) has also reached £1.45 billion, indicating a thriving ecosystem. The rapid growth of USDS also reflects the overall prosperity of the stablecoin market, which has now surpassed $209 billion, setting a new record high.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky's USDS stablecoin market cap 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 DeFi space.
USDS's growth comes in part from DAI swaps