#Sky stablecoin USDS market cap exceeds $2.1 billion#
Hot Topic Overview
Overview
Sky's stablecoin USDS has a market cap exceeding $2.1 billion, ranking fifth among stablecoins, almost doubling in the past month. USDS issuance has grown by 99% in the last 30 days and 12.50% year-on-year, causing a stir in the DeFi space. The growth of USDS is mainly driven by DAI swaps, with $123 million coming from DAI swaps. Currently, USDS's total market cap has surpassed $2.1 billion, breaking the $2 billion mark and becoming the fifth largest stablecoin.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS has surpassed $2.1 billion in market capitalization, ranking fifth among stablecoins, and has nearly doubled in the past month. According to Defillama data, USDS issuance has increased by 99% in the past 30 days, and 12.50% year-on-year, causing a stir in the DeFi space. The rapid growth of USDS is mainly attributed to its swap with DAI, with $123 million coming from the DAI swap. Currently, USDS's total market capitalization has exceeded $2.12 billion, of which £1.45 billion comes from Sky's locked value. The rapid growth of USDS indicates that the market demand for stablecoins is constantly increasing, and Sky's USDS, with its DAI swap and strong ecosystem, is becoming a major force in the stablecoin market.
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Public Sentiment
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Classic Views
Sky's USDS stablecoin market cap has grown rapidly, nearly doubling in the past month to reach $2.1 billion, becoming the fifth largest stablecoin.
The rapid growth of USDS is primarily driven by an increase in its issuance, which grew by 99% last month.
USDS's growth is also related to DAI swaps, with $123 million coming from DAI swaps.
The rapid growth of USDS has caused a stir in the DeFi space and has pushed the total stablecoin market cap to an all-time high.