While the broader crypto market has struggled throughout 2026, some protocols have continued to show strong growth. Sky Protocol was one of them, reporting record revenues and profits.
How strong has Sky Protocol’s growth been?
The Sky Frontier Foundation reported that Sky Protocol’s annualized gross revenue rate reached a record $419.08 million. The June report covered the previous three monthly settlement cycles.
According to the report, Sky Reserves closed June at $82.5 million, up approximately $33.7 million from March.
Additionally, the cumulative yield accrued by Sky Savings USDS (sUSDS) holders has exceeded $250 million since its inception.
Meanwhile, sUSDS deposits increased 85% year-over-year from $3.4 billion, while USDS supply increased 96.9% during the same period. Following the good results, the Sky Frontier Foundation presented plans to strengthen the ecosystem.
The team plans to lead an ecosystem-wide security hardening effort to reduce security risks while reducing operational costs.
Have SKY holders responded?
Following the earnings report, the native token SKY saw notable gains. The token defended $0.05 before climbing to a local high of $0.06.
In the process, SKY picked up the 20-day and 50-day exponential moving averages (EMA). At press time, SKY was trading around $0.0602, up 4.98% over the previous 24 hours.
The rally coincided with a greater influx of capital into the protocol. Inflows of United States dollars (USD) jumped to $120 million from $2.4 million a day earlier.
Additionally, demand strengthened in the spot and futures markets. In futures trading, inflows increased to $4.16 million, while outflows fell to $3.97 million.
As a result, Futures Netflow climbed 14% to $190,000, suggesting traders opened more leveraged positions.
Meanwhile, buyers continued to pile into the Spot Market for a fourth consecutive day. At press time, Spot Netflow stood at nearly -$66,000, indicating that more SKY exchanges exited than entered.
Can SKY extend its rally?
Strong demand also supported the token’s momentum. The Stochastic Momentum Index (SMI) rose to 42.
Although the SMI has remained below 50, its steady rise suggests improving momentum.
If buying demand persists, the indicator could cross 50, reinforcing the bullish outlook. This scenario could open the door to a move towards $0.064 in the short and medium term.
However, if the recent gains lose momentum, SKY could fall below $0.06 and return to $0.056.
Final Summary
- Sky Protocol’s annualized gross revenue rate reached an all-time high of $419.08 million, while reserves and deposits continued to grow.
- SKY reclaimed key moving averages as spot demand and futures activity improved, although $0.06 remains an important support level.
