### Sky Stablecoin USDS Market Cap Surges#
Hot Topic Overview
Overview
The market cap of USDS, a stablecoin under Sky, has recently surged, surpassing $2.1 billion and ranking fifth among stablecoins. In the past month, the market cap of USDS has increased by nearly 99%, with a year-on-year growth rate of 12.50%. This has caused a stir in the DeFi space, with its issuance increasing by 99% in the past month, including $123 million from DAI swaps. The rapid growth of USDS has also driven the growth of the total market cap of stablecoins, which has now surpassed $209 billion, setting a new historical high.
Ace Hot Topic Analysis
Analysis
The market capitalization of Sky's stablecoin USDS has surged recently, surpassing $2.1 billion and becoming the fifth largest stablecoin. In the past month, the market capitalization of USDS has increased by nearly 99%, with a year-on-year growth rate of 12.50%. This phenomenon has caused a stir in the DeFi space. According to Defillama data, USDS supply increased by 99% last month, with $123 million coming from DAI swaps. The rapid growth of Sky's USDS issuance could be attributed to the recent heat in the DeFi space and the growing demand for stablecoins from users. Moreover, Sky's USDS may also benefit from its collaboration with MakerDAO, whose TVL as of January 18, 2025, has reached £1.45 billion. Overall, the significant surge in Sky's USDS market capitalization indicates the user's recognition of the stablecoin and reflects the growing demand for stablecoins in the DeFi space.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky's USDS stablecoin market cap has grown rapidly, nearly doubling in the past month to over $2.1 billion, making it the fifth-largest stablecoin.
USDS's growth is primarily due to its rapidly growing issuance, which has increased by 99% in the past month.
USDS's growth is also partly attributed to DAI swaps, with $123 million of DAI being swapped for USDS in the past month.
USDS's growth has sparked interest in the DeFi space, as its rapid growth indicates increasing investor confidence in Sky.