#Sky stablecoin USDS market cap doubles#
Hot Topic Overview
Overview
Sky's stablecoin USDS has recently seen a significant increase in market capitalization, surpassing $2.1 billion and securing the fifth spot among stablecoins. Over the past month, USDS's market cap has surged by nearly 99%, with a year-over-year growth of 12.50%. Its issuance has reached $2 billion, solidifying its position as the fifth largest stablecoin. This growth trend has created a stir within the DeFi space, with a portion of the increase attributed to DAI swaps. The rapid rise of USDS has also propelled the total market capitalization of stablecoins past $209 billion, setting a new all-time high.
Ace Hot Topic Analysis
Analysis
The market capitalization of USDS, the stablecoin under Sky, has recently surged, exceeding $2.1 billion and ranking fifth among stablecoins. It has seen a 99% increase in the past month and a year-over-year growth of 12.50%, attracting attention in the DeFi space. According to Defillama data, USDS issuance has grown by 99% in the past month, with $123 million coming from DAI swaps. The rapid growth of USDS has also driven Sky's overall development, with its total locked value reaching £1.45 billion as of January 18, 2025. USDS's success is primarily attributed to its applications in DeFi and its interoperability with other stablecoins. The rapid growth of USDS also reflects the growing demand for stablecoins in the DeFi market and investor confidence in the Sky platform.
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 to $2.1 billion, making it the fifth-largest stablecoin.
USDS issuance has grown by 99% in the past 30 days, and 12.50% year-over-year, causing a stir in the DeFi space.
The growth of USDS is partly attributed to DAI swaps, with $123 million coming from DAI swaps.
Sky's USDS growth is a testament to the growing demand for stablecoins, and Sky's strong performance in the DeFi space.