#Sky stablecoin market cap doubles#
Hot Topic Overview
Overview
The market cap of Sky stablecoin USDS has nearly doubled in the past month, surpassing $2.1 billion and becoming the fifth-largest stablecoin. Its issuance has increased by 99% in the past 30 days and 12.50% year-on-year, causing a stir in the DeFi space. USDS's growth is primarily driven by DAI swaps, with $123 million coming from DAI swaps. Sky's rapid growth has also propelled the total stablecoin market cap to surpass $209 billion, setting a new all-time high.
Ace Hot Topic Analysis
Analysis
The market capitalization of Sky's stablecoin USDS has seen a significant surge recently, almost doubling in the past month and now exceeding $2.1 billion, making it the fifth largest stablecoin. This growth momentum has created a buzz in the DeFi space, with its issuance rising by 99% in the past 30 days and growing by 12.50% year-on-year. According to Defillama data, USDS supply increased by 99% last month, with $123 million coming from DAI swaps. Sky's rapid growth is also reflected in MakerDAO's TVL aggregation report, with its total value locked at £1.45 billion as of January 18, 2025. The USDS market cap exceeding $2.1 billion has also propelled the total stablecoin market cap to a new high, now surpassing $209 billion. USDS's rapid growth and Sky's active performance in the DeFi space demonstrate its strong competitiveness in the stablecoin market.
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Public Sentiment
Discussion Word Cloud
Classic Views
Sky stablecoin USDS market cap has nearly doubled in the past month, with a growth rate of 99.09%, USDS issuance has reached $2.12 billion, making it the fifth largest stablecoin, causing a stir in the Defi space, USDS's growth is mainly driven by DAI swaps, of which $123 million came from DAI swaps, Sky's USDS market cap growth reflects the overall growth trend of the stablecoin market, the total market cap of stablecoins has surpassed $209 billion, setting a new historical high