### Sky Stablecoin USDS Market Cap Surges#
Hot Topic Overview
Overview
The market capitalization of USDS, the stablecoin under Sky, has recently surged, surpassing $2.1 billion to become the fifth-largest stablecoin. Over the past month, USDS market cap has increased by nearly 99%, with a year-on-year growth of 12.50%, causing a stir in the DeFi space. The growth in USDS issuance is mainly driven by DAI swaps and the rapid development of Sky's own ecosystem. Currently, Sky's total value locked (TVL) has reached £1.45 billion.
Ace Hot Topic Analysis
Analysis
The market capitalization of USDS, the stablecoin under Sky, has recently seen a significant increase, currently exceeding $2.1 billion, making it the fifth-largest stablecoin. In the past month, the market cap of USDS has grown by almost 99%, with a year-on-year growth rate reaching 12.50%, causing a stir in the DeFi space. According to Defillama data, the USDS issuance has increased by 99% in the past month, with $123 million coming from DAI swaps. The rapid growth of USDS has also driven the overall development of Sky, with its total value locked reaching £1.45 billion as of January 18, 2025. The success of USDS is mainly attributed to its stability and security, as well as Sky's active layout in the DeFi space.
Public Sentiment · Discussion Word Cloud
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 growth is mainly due to DAI swaps, of which $123 million came from DAI swaps, Sky's USDS market cap growth reflects the overall growth trend in the stablecoin market, the total market cap of stablecoins has exceeded $209 billion, setting a new historical high