#Sky stablecoin USDS market cap surpasses $2.1 billion#
Hot Topic Overview
Overview
Sky's stablecoin USDS has surpassed a market cap of $2.1 billion, ranking fifth among stablecoins, and has nearly doubled in value in the past month, attracting attention in the DeFi space. The USDS issuance has increased by 99% in the past month and 12.50% year-on-year, with $123 million coming from DAI swaps. The rapid growth of USDS has made it one of the most notable stablecoins in the DeFi space.
Ace Hot Topic Analysis
Analysis
The market cap of Sky's stablecoin, USDS, has surpassed $2.1 billion, propelling it to the fifth spot in the stablecoin rankings. This surge in growth has sparked attention within the DeFi space. According to Defillama, USDS has witnessed a 99% increase in the past month and a 12.50% year-on-year growth. This expansion is primarily fueled by the rapid growth of its issuance, with $123 million stemming from DAI swaps. USDS's market cap growth has also contributed to a new all-time high in the total stablecoin market cap, reaching $209.45 billion. The swift rise of USDS signifies a growing market trust in Sky and its increasing significance within the DeFi ecosystem.
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Classic Views
Sky stablecoin USDS market cap surpasses $2.1 billion, becoming the fifth-largest stablecoin.
USDS has grown by 99% in the past month and 12.50% year-over-year, showing impressive growth.
USDS's growth is partly due to DAI swaps, which currently stand at $123 million.
The rapid growth of USDS has caused a stir in the DeFi space.