#Sky Stablecoin Market Cap Doubles#
Hot Topic Overview
Overview
Sky’s stablecoin USDS has nearly doubled in market cap over the past month, surpassing $2.1 billion and becoming the fifth-largest stablecoin. Its issuance has grown by 99% in the past 30 days and 12.50% year-on-year, creating a stir in the DeFi space. USDS’s growth is primarily attributed to DAI swaps and the continuous development of Sky’s own ecosystem.
Ace Hot Topic Analysis
Analysis
The market cap of Sky's stablecoin USDS has nearly doubled in the past month, exceeding $2.1 billion and ranking fifth among stablecoins. Its issuance has increased by 99% in the past 30 days, and year-on-year growth is 12.50%, causing a stir in the DeFi space. According to Defillama data, Sky's USDS issuance growth is mainly driven by DAI swaps, with $123 million coming from DAI swaps. In addition, Sky's total locked value has also reached £1.45 billion, indicating that its influence in the DeFi space is steadily increasing. The rapid growth of Sky's stablecoin may be related to the development trend of the DeFi space, such as the increasing demand for stablecoins, as well as some innovative measures taken by Sky itself, such as DAI swaps.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky stablecoin USDS market cap has nearly doubled in the past month, growing by 99%,
USDS issuance reached $2.12 billion, making it the fifth-largest stablecoin,
USDS's growth has caused a stir in the DeFi space,
USDS's growth is partly due to DAI swaps