{"id":129592,"date":"2026-01-24T08:38:29","date_gmt":"2026-01-24T08:38:29","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=129592"},"modified":"2026-01-24T08:38:29","modified_gmt":"2026-01-24T08:38:29","slug":"why-sky-is-surging-8-while-the-rest-of-crypto-bleeds-red","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=129592","title":{"rendered":"Why SKY Is Surging +8% While The Rest of Crypto Bleeds Red?"},"content":{"rendered":"

On January 22, Sky\u2019s SKY token <\/span>rose<\/span><\/a> about +8% in 24 hours, moving against a softer crypto market.<\/span><\/p>\n

SKY, the governance token of Sky Protocol, traded between $0.066 and $0.067 across major exchanges, including Binance, Coinbase, and Kraken.\u00a0<\/span><\/p>\n

(Source: Coingecko)<\/a><\/p>\n

Trading volume over the day ranged from roughly $20M to $40M, while the project\u2019s market value stood close to $1.5Bn.<\/span><\/p>\n

Sky Protocol emerged from the rebrand of MakerDAO and supports the USDS stablecoin.<\/span><\/p>\n

The move came as broader conditions stayed weak. Total crypto market capitalization fell about 2% over the same period, with Bitcoin and Ethereum both trading slightly lower.<\/span><\/p>\n

DISCOVER: 20+ Next Crypto to Explode in 2026<\/a><\/p>\n

What Does the $0.0778 Neckline Mean for SKY\u2019s Next Move?<\/h2>\n

Technical analysts say the daily chart is starting to improve. SKY appears to be forming a rounding-bottom pattern after rebounding from a key demand zone near $0.0419.\u00a0<\/span><\/p>\n

Volume has picked up during the rebound. A possible neckline sits around $0.0778. A clean break above that level could signal a broader trend shift.<\/span><\/p>\n

Traders are also focused on the impact of Sky Protocol\u2019s token-economic actions. In recent months, the project has spent about $75M buying back SKY using its USDS stablecoin. Around 73M tokens have been removed from circulation.\u00a0<\/span><\/p>\n

Since the program began, SKY\u2019s price has been up roughly +8%, adding support to the recent move.<\/span><\/p>\n

DISCOVER: 16+ New and Upcoming Binance Listings in 2026<\/a><\/p>\n

What Does Nansen Data Reveal About Recent SKY Accumulation?<\/h2>\n

On-chain data from Nansen shows renewed accumulation in SKY as market focus grows around rumors of a possible Robinhood listing.<\/span><\/p>\n

Blockchain activity points to a cluster of new wallets that first began buying SKY several weeks ago. These wallets have now become active again and added to their holdings.\u00a0<\/span><\/p>\n

What\u2019s happening on-chain with $SKY<\/a> via @nansen_ai<\/a> <\/p>\n

Amid growing Robinhood listing rumors, on-chain data is showing a new wave of accumulation for $SKY<\/a>. <\/p>\n

A cluster of fresh wallets that originally accumulated $SKY<\/a> weeks to about a month ago has now re-activated and added size\u2026 pic.twitter.com\/LitADLWTd6<\/a><\/p>\n

\u2014 Evening Trader Group (@Eveningtraders) January 23, 2026<\/a><\/p>\n\n

Combined accumulation across the group stands at about 1.04Bn SKY, worth roughly $68.5M at current prices.<\/span><\/p>\n

Institutional interest also appears to be picking up. Framework Ventures recently bought 53.46M SKY from FalconX and moved the full amount into staking.\u00a0<\/span><\/p>\n

With this addition, Framework\u2019s total staked position now tops 202M tokens, suggesting it remains confident at current price levels.<\/span><\/p>\n

DISCOVER: 10+ Next Crypto to 100X In 2026<\/a><\/p>\n

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Key Takeaways<\/h2>\n

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On January 22, Sky\u2019s SKY token <\/span>rose<\/span><\/a> about +8% in 24 hours, moving against a softer crypto market.<\/span><\/p>\n

\n<\/p>

In recent months, the project has spent about $75M buying back SKY using its USDS stablecoin. Around 73M tokens have been removed from circulation.
\n<\/span> <\/p>\n

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<\/p>\n

The post Why SKY Is Surging +8% While The Rest of Crypto Bleeds Red?<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

On January 22, Sky\u2019s SKY token rose about +8% in 24 hours, moving against a softer crypto market. SKY, the governance token of Sky Protocol, traded between $0.066 and $0.067 across major exchanges, including Binance, Coinbase, and Kraken.\u00a0 (Source: Coingecko) Trading volume over the day ranged from roughly $20M to $40M, while the project\u2019s market […]<\/p>\n","protected":false},"author":0,"featured_media":129593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-129592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/129592"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129592"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/129592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/129593"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}