Sky (SKY) Hits All-Time High, Just Shy of December Record

Sky (SKY) has reached an all-time high in price, just shy of its record from December 2024. The token currently trades at $0.09669, a weekly gain of 25.8 percent and only 3.8 percent below its peak.

The surge is attributed to the protocol's own figures, including the supply of its in-house stablecoin USDS reaching $10 billion, a savings rate on it standing at 3.60 percent a year, and a listed asset manager placing $100 million of it in its corporate treasury in September.

Sky (SKY) is the renamed MakerDAO, one of the oldest lending protocols on Ethereum. The protocol issues loans without a bank standing in between: whoever deposits collateral is paid out a stablecoin in return. Three things were given new names in the 2024 rebranding: MKR became SKY, DAI became USDS, and sDAI became sUSDS.