Sky [SKY], the native token of decentralized finance protocols, registered gains exceeding 11% over a 24-hour period. The upward movement was largely driven by a rise in on-chain activity and market revenue.
Data from Artemis shows that revenue generated by SKY grew from a low of $48,500 to roughly $560,800 by September 30th. Although subsequent data from DeFiLlama recorded a slight adjustment to $436,210, this change still represents roughly a 10x increase compared to previous lows, signaling heightened protocol usage. Additionally, the protocol's yearly Gross Profit reached $137.9 million, marking its third-highest level behind 2024 and 2025.
On-Chain Activity and User Growth
Market transactions on the protocol reached approximately 1.2 million, growing by more than 200,000 since September 25th. This transaction volume aligned with an increase in Daily Active Users, which climbed to 90,800. The simultaneous growth in both metrics highlights sustained engagement on the network.
Spot Accumulation Trends
Spot market accumulation has also contributed to the asset's recent performance. Traders accumulated approximately $125,000 in SKY over a 24-hour window. Over a broader fifteen-day period, the market recorded negative Netflow totaling about $15 million, indicating that buying activity has outweighed selling pressure.
