Key Highlights
- $SKY’s revenue surged 799% as on-chain activity and Daily Active Users increased.
- Transactions reached approximately 1.2 million in the past 24 hours, while Daily Active Users climbed to 90,800.
- Negative Netflow indicates continued spot accumulation, including roughly $125,000 in $SKY purchases over the past 24 hours.
$SKY On-Chain Activity Reaches 1.2 Million Transactions
On-chain activity for $SKY has strengthened significantly, with market transactions reaching approximately 1.2 million over the past day. According to data from Artemis, transaction activity has increased by more than 200,000 since September 25.
The rise represents an increase of roughly 10 times, confirming that activity on the protocol has remained elevated. A trend of this nature is generally associated with bullish market conditions because it indicates that investors are using the protocol more actively.
Transaction growth has also coincided with an increase in Daily Active Users. Artemis data showed that the protocol had approximately 90,800 Daily Active Users at the time of writing. The simultaneous rise in users and transactions suggests that the increase in activity is closely linked to $SKY’s market performance.
Protocol Gross Profit Reaches $137.9 Million
Beyond its on-chain metrics, the protocol has also recorded strong financial performance. Yearly Gross Profit has reached $137.9 million so far, making it the protocol’s third-highest annual level, behind its results in 2024 and 2025.
The performance could help support $SKY’s price in the near term. If elevated user activity and transaction volumes continue, the asset may retain the momentum associated with its recent gains, although the source data does not establish a guaranteed future price movement.
Spot Accumulation Adds Support for $SKY
Spot-market accumulation has also contributed to $SKY’s performance. Approximately $125,000 in $SKY was accumulated over the past 24 hours, a level of buying that could influence the asset’s near-term market behavior.
Large-scale accumulation over a single day can indicate that traders expect an asset to rise in the near term. The buying trend has extended across the market during the past 15 days, with total Netflow accumulation reaching approximately $15 million, according to CoinGlass.
Negative Netflow indicates that buying has exceeded selling. If the trend continues, sustained spot accumulation could help maintain $SKY’s recent performance and provide additional support for its price.
Why This Matters
The combination of stronger on-chain activity, rising Daily Active Users, higher Gross Profit and negative Netflow provides several indicators of increased market engagement with $SKY. Transactions of approximately 1.2 million and 90,800 Daily Active Users show that the protocol’s activity is broadening alongside its financial performance.
However, the reported market support depends on these trends continuing. Further growth in protocol usage and spot buying could reinforce $SKY’s performance in the near term, while a slowdown in either area could reduce the current momentum.
Frequently Asked Questions
How many transactions did $SKY record?
$SKY recorded approximately 1.2 million transactions during the past 24 hours, with activity increasing by more than 200,000 since September 25.
How many Daily Active Users did the protocol have?
The protocol had approximately 90,800 Daily Active Users at the time of writing, according to data from Artemis.
What does negative Netflow indicate for $SKY?
Negative Netflow indicates that buying exceeded selling. In this case, the market recorded approximately $15 million in total Netflow accumulation over the past 15 days.
