### Sky Stablecoin USDS Market Cap Surges#
Hot Topic Overview
Overview
Sky's stablecoin USDS has seen a significant surge in market capitalization recently, exceeding $2.1 billion and securing the fifth spot among stablecoins. Over the past month, USDS's market cap has grown by 99%, with a year-on-year increase of 12.50%, making waves in the DeFi space. 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 pushed the total stablecoin market cap past $209 billion, setting a new all-time high.
Ace Hot Topic Analysis
Analysis
The market capitalization of Sky's stablecoin USDS has recently surged, drawing attention within the DeFi space. According to Defillama, the issuance of USDS has surpassed $2.1 billion, making it the fifth largest stablecoin and recording a near 99% growth over the past month. This growth is primarily driven by DAI swaps, with $123 million coming from DAI. The rise in USDS's market capitalization has also propelled the total stablecoin market capitalization beyond $209 billion, setting a new historical high. USDS's rapid growth reflects Sky's strong momentum in the DeFi space, and also signifies the growing demand for stablecoins in the market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky's USDS stablecoin market cap has increased by 99% in the past month, reaching $2.12 billion, making it the fifth largest stablecoin.
The rapid growth of USDS has caused a stir in the DeFi space, with its issuance increasing by 99% in the past 30 days and by 12.50% year-on-year.
The growth of USDS is partly due to swaps from DAI, with $123 million coming from DAI swaps.
Sky's USDS market cap growth has pushed the total stablecoin market cap above $209 billion, a new all-time high.