#Sky stablecoin USDS market cap surges#
Hot Topic Overview
Overview
The market cap of USDS, a stablecoin under Sky, has recently surged, exceeding $2.1 billion and placing it fifth in the stablecoin market capitalization rankings. In the past month, the market cap of USDS has grown by nearly 99%, while the year-on-year growth rate has reached 12.50%, causing a stir in the DeFi space. The USDS issuance has reached $2 billion, of which $123 million came from DAI swaps. The rapid growth of USDS has also driven the total market cap of stablecoins to surpass $209 billion, setting a new historical high.
Ace Hot Topic Analysis
Analysis
The market capitalization of USDS, the stablecoin under Sky, has recently surged significantly, exceeding $2.1 billion and ranking as the fifth-largest stablecoin. Its market cap has grown nearly 99% in the past month and 12.50% year-over-year, making waves in the DeFi space. According to Defillama, USDS issuance has increased by 99% over the past month, with $123 million coming from DAI swaps. The rapid growth of USDS could be attributed to the development of the Sky ecosystem and the increasing demand for stablecoins from users. Sky's total value locked (TVL) has also reached £1.45 billion, indicating its growing influence in the DeFi space. The rapid growth of USDS also reflects the overall boom in the stablecoin market, with the total market capitalization of stablecoins surpassing $209 billion, setting a new record high.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Sky stablecoin USDS market cap has grown rapidly, nearly doubling in the past month to reach $2.1 billion, making it the fifth largest stablecoin.
USDS issuance has increased by 99% in the past 30 days, with a year-over-year increase of 12.50%, causing a stir in the DeFi space.
USDS's growth is partly attributed to DAI swaps, with $123 million coming from DAI swaps.
Sky's total value locked (TVL) reached £1.45 billion as of January 18, 2025.