【Old Leek Watch】
$SKY These past few days have been brutal.
It’s already hovering near $0.10; in a week it’s up about 26%, and only about 4% remains until the all-time high.
At the end of September, Galaxy Digital transferred $100 million worth of sUSDS onto the company’s balance sheet, while also buying SKY.
What’s more, Galaxy allows institutional clients to use sUSDS as loan collateral—backed by an institutional lending business with an average size of $1.4 billion.
On the other side, Sky’s sUSDS supply has reached $5.52 billion, up 149% year over year.
So what SKY is facing right now isn’t just simple speculation.
It’s moving toward its all-time peak, and institutional capital has started treating Sky’s yield-bearing USD assets as real financial assets.
$SKY These past few days have been brutal.
It’s already hovering near $0.10; in a week it’s up about 26%, and only about 4% remains until the all-time high.
At the end of September, Galaxy Digital transferred $100 million worth of sUSDS onto the company’s balance sheet, while also buying SKY.
What’s more, Galaxy allows institutional clients to use sUSDS as loan collateral—backed by an institutional lending business with an average size of $1.4 billion.
On the other side, Sky’s sUSDS supply has reached $5.52 billion, up 149% year over year.
So what SKY is facing right now isn’t just simple speculation.
It’s moving toward its all-time peak, and institutional capital has started treating Sky’s yield-bearing USD assets as real financial assets.
