#Sky Stablecoin USDS Market Cap Surges#
Hot Topic Overview
Overview
Sky's stablecoin, USDS, has seen a significant surge in market cap recently, surpassing $2.1 billion and ranking fifth among stablecoins. Over the past month, USDS market cap has grown by nearly 99%, representing a year-on-year growth of 12.50%. This has caused a stir in the DeFi space, with its issuance growing by 99% in the past month, including $123 million from DAI swaps. USDS' rapid growth has made it one of the most watched stablecoins in the DeFi space.
Ace Hot Topic Analysis
Analysis
The market capitalization of USDS, a stablecoin under Sky, has recently experienced significant growth, surpassing $2.1 billion and ranking fifth among stablecoins. This growth has been remarkable, increasing nearly 99% in the past month. This has caused a stir in the DeFi space, with its issuance increasing by 99% in the past 30 days and 12.50% year-on-year. The growth of USDS is mainly attributed to its swap with DAI, with Defillama data showing that $123 million out of the $2.12 billion market capitalization comes from DAI swaps. Additionally, Sky's total locked value has reached £1.45 billion, indicating its growing influence in the DeFi space. The rapid growth of USDS also reflects the trend in the stablecoin market, where more and more users are seeking more stable and reliable digital assets.
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, growing by a whopping 99.09%,
USDS's market cap has surpassed $2.1 billion, making it the fifth-largest stablecoin.
USDS's rapid growth has caused a stir in the DeFi space.
USDS's growth has come partly from DAI swaps, with $123 million coming from DAI swaps.