Key Highlights
- SKY gained 8.8% in 24 hours to $0.07357, with its daily range reaching $0.06761 to $0.07593.
- The token’s market capitalization stood at $1.724 billion, while 24-hour trading volume reached $47.91 million.
- SKY gained 11.3% against Bitcoin and 11.4% against Ethereum during the same period.
Sky (SKY) traded at $0.07357, up 8.8% over the past 24 hours despite a decline in the broader crypto market.
According to CoinGecko data (at 16:35 UTC on September 23), the token’s 24-hour range spanned $0.06761 to $0.07593. Its market capitalization stood at $1.724 billion, while its fully diluted valuation was $1.727 billion.
Trading volume during the period reached $47.91 million, and the total value locked was reported at $5.916 billion. Circulating supply was 23.424 billion SKY, while total supply was 23.46 billion and maximum supply was 23.463 billion.
The price chart for the 24-hour period showed an overall upward trajectory. The token moved higher from levels near $0.068, with intermittent advances and pullbacks, before closing the session near $0.074. Against Bitcoin, SKY gained 11.3%, and against Ethereum, it advanced 11.4% during the same window.
Over the preceding seven days, SKY traded between $0.0556 and $0.07593. The token remained 26.8% below its all-time high of $0.1005 and 105.3% above its all-time low of $0.03583.
Broader market conditions
According to data from CoinGecko (at 16:35 UTC on September 23), the global cryptocurrency market capitalization stood at approximately $2.97 trillion, down 1.9% over the prior 24 hours. Aggregate 24-hour trading volume across the market totaled $119.44 billion.
Among the largest cryptocurrencies by market capitalization, Bitcoin traded at $84,220.56, down 2.4% in 24 hours. Ethereum stood at $2,661.74, lower by 3.0%.
Tether remained near $0.9998 with minimal change. BNB traded at $764.82, down 3.1%, while XRP was priced at $1.50, declining 3.6%.
SKY’s gain therefore came as the broader crypto market and several major assets moved lower.
Recent corporate activity involving Sky Protocol
On Wednesday, Galaxy Digital announced that it had added $100 million of Sky Protocol’s sUSDS to its corporate treasury and approved the stablecoin as eligible collateral across its institutional trading business.
As part of the same relationship, Galaxy acquired an undisclosed amount of SKY tokens, according to Greg Feibus, Global Head of Capital Markets at Sky Frontier Foundation.
Clients of Galaxy can post sUSDS as collateral against loans through the firm’s institutional trading business. While the collateral remains posted, the full position continues to accrue the Sky Savings Rate, the variable interest rate associated with sUSDS, for the duration of the loan.
Galaxy reported that its institutional platform serves more than 1,600 trading counterparties and maintains an average loan book of $1.4 billion.
The announcement adds to recent corporate activity around Sky Protocol, although it does not establish a direct link between Galaxy’s transactions and SKY’s latest price move.
Activity levels in the wider crypto sector
According to a report published by Chainalysis, the global crypto economy generated $9.4 trillion in activity between July 1, 2025, and June 30, 2026. The figure was recorded even as the wider crypto market lost approximately half its value during the same period.
The seventh Geography of Cryptocurrency report noted that money movement, payments, and stablecoin use contributed to steady activity levels. The data indicated a divergence between crypto asset prices and underlying usage metrics over the 12 months.
Also Read: Bitwise Survey Finds Institutional Crypto Adoption Shifting From “If” to “How”
