#Sky stablecoin USDS market cap breaks $2.1 billion#
Hot Topic Overview
Overview
The market capitalization of USDS, a stablecoin under Sky, has surpassed $2.1 billion, ranking fifth among stablecoins, with a near-doubling increase in the past month. USDS issuance has grown by 99% in the past 30 days, representing a year-on-year increase of 12.50%, creating a stir in the DeFi space. The rapid growth of USDS is primarily attributed to DAI swaps, with $123 million stemming from DAI swaps. The increase in USDS market capitalization has also propelled the total market capitalization of stablecoins to surpass $209 billion, setting a new record high.
Ace Hot Topic Analysis
Analysis
Sky's stablecoin USDS has surpassed $2.1 billion in market capitalization, ranking fifth among stablecoins, and has nearly doubled in the past month, attracting attention in the DeFi space. According to Defillama data, USDS issuance has grown 99% in the past 30 days and 12.50% year-over-year, causing a stir in the DeFi space. The rapid growth of USDS is mainly attributed to its swap with DAI, with $123 million coming from DAI swaps. The growth of USDS also reflects the overall prosperity of the stablecoin market, with the total market capitalization of stablecoins exceeding $209 billion, a new all-time high.
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Classic Views
Sky stablecoin USDS market cap surpasses $2.1 billion, becoming the fifth-largest stablecoin.
USDS has grown 99% in the past month, with a year-over-year growth of 12.50%, an astonishing growth rate.
The growth of USDS is mainly attributed to DAI swaps, with $123 million coming from DAI swaps.
The rapid growth of USDS has caused a stir in the Defi space and has pushed the total market cap of stablecoins to an all-time high.