#Sky stablecoin market cap doubles#
Hot Topic Overview
Overview
Sky's stablecoin USDS has nearly doubled in market cap in the past month, now exceeding $2.1 billion and ranking as the fifth-largest stablecoin. Its issuance has grown by 99% in the past 30 days and by 12.50% year-on-year, creating a buzz in the DeFi space. USDS's growth is primarily driven by DAI swaps and the continued development of Sky's own ecosystem.
Ace Hot Topic Analysis
Analysis
The market capitalization of Sky's stablecoin USDS has nearly doubled in the past month, surpassing $2.1 billion and becoming the fifth-largest stablecoin. Its issuance has grown by 99% in the past 30 days and 12.50% year-on-year, causing a stir in the DeFi space. Defillama data shows that USDS supply grew by 99% last month, with $123 million coming from DAI swaps. Sky's rapid growth may be attributed to various factors, including its partnership with MakerDAO and its applications within the DeFi ecosystem. Sky's USDS issuance reaching $2 billion and climbing to the fifth-largest stablecoin suggests its growing influence in the DeFi space, with promising future developments.
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 a growth rate of 99.09%, USDS issuance has reached $2.12 billion, becoming the fifth largest stablecoin, and has caused a stir in the Defi space, USDS's growth is mainly due to DAI swaps, of which $123 million came from DAI swaps, Sky's USDS market cap growth reflects the overall growth trend of the stablecoin market, the total market cap of stablecoins has broken through $209 billion, a new all-time high