SKY Token Market Cap Rises 10% to $1.78 Billion Amid 15-Week Uptrend

Sky's native token SKY added roughly $178 million in market value over the past 24 hours, lifting its market capitalization about 10% to approximately $1.78 billion, CoinGlass data show. Perpetual market activity drove the gain, with trading capital rising 12% to $27 million while the Taker Buy/Sell Ratio held above 1 and Open Interest Weighted Funding Rate remained positive. SKY has formed higher highs and higher lows for around 15 weeks following a six-week correction that ended near Nov. 17, with about 5.1 billion SKY traded during the period, according to TradingView. Spot market participants have taken profits since around Feb. 24, driving roughly $5.8 million in total spot outflows, though this remains small relative to the recent market cap increase.