SKY is quite the player, moving against the market trend, climbing from November until now, albeit slowly.
Reasons include:
1. Proposal approval significantly slows down token release + massive buybacks, with over 1.83 billion SKY already repurchased.
2. On April 16, Tether invested 135 million in a private round, acquiring 9.15% of the supply.
3. Revenue skyrocketed, with USDS rising from 1.3 billion to 8.3 billion, and the protocol generating 300 million annually, netting 158 million.
4. Additionally, the recent KelpDAO hack incident has led to funds flowing out of DeFi, but SKY, being a seasoned DeFi protocol, remains relatively stable under volatility.
Current market cap stands at 2 billion, with a TVL of 5.4 billion.
$SKY
Reasons include:
1. Proposal approval significantly slows down token release + massive buybacks, with over 1.83 billion SKY already repurchased.
2. On April 16, Tether invested 135 million in a private round, acquiring 9.15% of the supply.
3. Revenue skyrocketed, with USDS rising from 1.3 billion to 8.3 billion, and the protocol generating 300 million annually, netting 158 million.
4. Additionally, the recent KelpDAO hack incident has led to funds flowing out of DeFi, but SKY, being a seasoned DeFi protocol, remains relatively stable under volatility.
Current market cap stands at 2 billion, with a TVL of 5.4 billion.
$SKY