#Sky Stablecoin Market Cap Soars#
Hot Topic Overview
Overview
Sky's stablecoin USDS has seen a significant increase in market capitalization recently, exceeding $2.1 billion and ranking fifth among stablecoins. Over the past month, USDS issuance has grown by 99% and 12.50% year-over-year, its rapid growth making waves in the DeFi industry. The growth of USDS is primarily attributed to DAI swaps, with USDS receiving $123 million from DAI swaps over the past month. Sky's rapid growth has also contributed to the increase in the total market capitalization of stablecoins, which has now surpassed $209 billion, setting a new historical high.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS has seen a significant surge in market capitalization recently, exceeding $2.1 billion and ranking fifth among stablecoins. This represents a near 99% increase in the past month, causing a stir in the DeFi industry. According to Defillama data, USDS issuance has grown by 99% in the past month, with $123 million coming from DAI swaps. Sky's rapid USDS issuance growth, pushing its market cap beyond $2 billion, indicates a growing trust in Sky. The growth of USDS also reflects the burgeoning DeFi industry and the crucial role stablecoins play in the DeFi ecosystem.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky stablecoin USDS market cap is rapidly increasing, almost doubling in the last month, currently exceeding $2.1 billion, ranking as the fifth largest stablecoin.
USDS issuance has increased by 99% in the past 30 days, with a year-on-year growth of 12.50%, causing a stir in DeFi.
Part of USDS's growth comes from DAI swaps, with $123 million coming from DAI swaps.
Sky's TVL reached £1.45 billion as of January 18, 2025.