#Sky Stablecoin USDS Market Cap Doubles#
Hot Topic Overview
Overview
Sky's stablecoin USDS has seen a rapid increase in market capitalization recently, exceeding $2.1 billion and ranking fifth among stablecoins. In the past month, USDS's market capitalization has grown by nearly 99%, with a year-on-year increase of 12.50%, and its issuance has reached $2 billion. This growth trend has created a stir in the DeFi space, partly due to the growth of USDS driven by DAI swaps and the continued growth of Sky TVL.
Ace Hot Topic Analysis
Analysis
The market cap of USDS, the stablecoin under Sky, has nearly doubled in the past month, exceeding $2.1 billion and becoming the fifth largest stablecoin. Its issuance volume has grown by 99% in the past 30 days and 12.50% year-on-year, causing a stir in the DeFi space. The rapid growth of USDS's market cap is mainly due to the increase in its issuance volume, of which $123 million came from DAI swaps. Sky's USDS issuance volume reached $2 billion, climbing to the fifth-largest stablecoin, causing a sensation in DeFi. According to Defillama data, the US dollar supply grew by 99% last month. Sky reported that the total value locked was £1.45 billion as of January 18, 2025. The rapid growth of USDS has also pushed the total market cap of stablecoins to exceed $209 billion, setting a new historical high.
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Public Sentiment
Discussion Word Cloud
Classic Views
Sky's USDS stablecoin market capitalization has nearly doubled in the past month, increasing by 99%,
USDS's market capitalization has surpassed $2.1 billion, making it the fifth largest stablecoin.
USDS's growth rate is staggering, increasing by 99% in 30 days and 12.50% year-over-year.
USDS's growth is partly due to DAI swaps, including $123 million from DAI swaps.