#Sky stablecoin market cap doubles#
Hot Topic Overview
Overview
Sky's stablecoin USDS has seen a significant increase in market capitalization recently, surpassing $2.1 billion and ranking fifth among stablecoins. It has grown by nearly 99% in the past month, reaching an all-time high. Its issuance has increased by 99% in the past 30 days and by 12.50% year-over-year, causing a stir in the DeFi space. USDS's growth is mainly attributed to DAI swaps, with $123 million coming from DAI swaps. Sky's rapid growth has also driven the total stablecoin market cap to exceed $209 billion, setting a new all-time high.
Ace Hot Topic Analysis
Analysis
The market cap of Sky's stablecoin USDS has nearly doubled in the past month, surpassing $2.1 billion and making it the fifth-largest stablecoin. According to Defillama data, USDS issuance has grown by 99% in the past 30 days and 12.50% year-on-year. This growth rate has caused a stir in the DeFi space. The growth of USDS is mainly driven by DAI swaps, with $123 million coming from DAI swaps. In addition, Sky's Total Value Locked (TVL) is also growing steadily, reaching £1.45 billion as of January 18, 2025. The rapid growth of USDS indicates that the market's trust in Sky is constantly increasing, and its stablecoin is becoming increasingly popular.
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 an impressive growth rate of 99.09%,
USDS issuance has surpassed $2.1 billion, making it the fifth largest stablecoin and causing a stir in the DeFi space.
USDS's growth is primarily driven by DAI swaps, with $123 million coming from DAI swaps in the past month.
Sky's USDS growth momentum is strong, with a year-on-year growth rate of 12.50%.