How SKY crypto's 12% price drop raises the risk of further losses
SKY faces further downside risks as derivatives activity weakens despite healthy on-chain fundamentals.
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SKY faces further downside risks as derivatives activity weakens despite healthy on-chain fundamentals.
Moody's has given Sky Protocol a B3 rating with a stable outlook, marking the agency's first rating of a stablecoin protocol.
Sky's speculative-grade rating highlights the need for stronger capital buffers, impacting institutional investment and stablecoin market stability.
Clients can pledge the savings token, though the companies disclosed no sUSDS-backed client loan volume.
Galaxy added $100 million in sUSDS to its treasury and approved the Sky savings token as institutional loan collateral.
Standard Chartered Bank has initiated coverage of Sky, calling it "DeFi's federal bank," and expects SKY to rise $0.325 by 2028.
The bank expects Sky to pass five times as much value to token holders by 2028 as USDS adoption and borrowing capacity continue to expand.